New Delhi: Wholesale inflation continued to ease in February to its lowest in over two years amid a broad-based moderation led by manufactured products, but higher food prices, notably of milk, impacted the overall print.
Wholesale price index (WPI)-based inflation eased to 3.85% compared to 4.73% in January, data released by the ministry of commerce and industry showed on Tuesday. Notably, wholesale inflation remained in single digits for the fifth month in a row after 18 straight months of double-digit inflation.
Manufactured products which have the highest weightage in the WPI eased to 1.94% in February compared to 2.99% in January.
Food inflation, on the other hand, dipped marginally to 2.76% in February from 2.95% in January as fear of a looming heatwave kept cereal prices high.
Experts also expressed concern about milk prices which registered the third consecutive jump in February to hit 10.33%.
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