The annual rate of inflation based on all India Wholesale Price Index (WPI) number eased to 3.85% (provisional) for February, 2023 (over February, 2022) against 4.73% recorded in January, 2023. As per the Government, the decline in the rate of inflation in February, 2023 was primarily due to fall in prices of crude petroleum & natural gas, non-food articles, food products, minerals, computer, electronic & optical products, chemicals & chemical products, electrical equipment and motor vehicles, trailers & semi-trailers.
The prices of food articles (0.45%) increased in February, 2023 as compared to January, 2023., while the prices of minerals (-1.37%), non-food articles (-1.73%) and crude petroleum & natural gas (-5.42%) declined in February, 2023 as compared to January, 2023.
The index for Fuel and Power increased by 1.93% to 158.8 (provisional) in February, 2023 from 155.8 (provisional) for the month of January, 2023. Prices of Mineral Oils (2.86%) and Coal (0.74%) also increased in February, 2023 as compared to January, 2023.
The Food Index increased from 171.2 in January, 2023 to 171.3 in February, 2023. The rate of inflation based on WPI Food Index decreased from 2.95% in January, 2023 to 2.76% in February, 2023.
Consumer price index based retail inflation declined to 6.44 per cent in February from 6.52 per cent in January.