India’s wholesale price index-based inflation rose to 6.5% in February 2017 year-on-year from 5.25% in January, according to the data provided by the Ministry of Commerce and Industry. The increase in the prices of minerals, fuel and food prices contributed to the surge in WPI, which is at its highest since November 2013, reported Bloomberg Quint.
The WPI in February 2016 had seen a fall of 0.85%. Meanwhile, the WPI for December 2016 has been revised to 3.68%, from 3.39% as it had been said earlier.
In February, wholesale food prices rose 2.69% year-on-year. The index for fuel and power rose by 1.3% to 201.8 from 201.2 from the previous month, because of the higher prices of coal, kerosene and aviation turbine fuel, the ministry said. The index for mineral group rose by 9% due to higher price of crude petroleum, manganese ore, chromite among others.