India's Retail Inflation Increases In February On Growing Prices

Retail prices of petrol and diesel have hit record highs across the country in the past couple of months in line with the rise in global crude oil prices

NEW DELHI

With growing food and fuel prices, India’s retail inflation increased in February as the Consumer Price Index rose to 5.03 per cent against 4.06 per cent in January.

The consumer food price index was at 3.87 per cent in February, in a steep rise from 1.96 per cent a month ago, showed data from the Ministry of Statistics & Programme Implementation.

The latest data gains significance as the February CPI is the last CPI inflation print before the RBI’s monetary policy review.

The combined inflation rate for food and beverages was at 4.25 per cent and that of pan, tobacco, and intoxicants was at 10.70 per cent in February 2021.

As per the official data, the inflation rate for fuel and light was at 3.53 per cent.

Retail prices of petrol and diesel have hit record highs across the country in the past couple of months in line with the rise in global crude oil prices, affecting the common man.

Pump prices of the transport fuels have been unchanged for around 13 days now at record high levels ahead of the upcoming Assembly polls.