India’s retail inflation rises to 6.07% in February: Government data

Retail Inflation Rate: India’s retail inflation, which is measured by the consumer price index (CPI), rose to 6.07 per cent in February from 6.01 per cent in January, according to government data released on Monday.

The inflation rate has remained above the Reserve Bank of India’s (RBI) limit of 6 per cent for the second consecutive month.

RBI usually factors in CPI data while setting its bi-monthly monetary policy. Last month, RBI’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 4 per cent for the tenth time in a row.

Read | WPI inflation rises to 13.11% in February after fuel price hike

Wholesale price based inflation (WPI) also rose to 13.11 per cent in February from 12.96 per cent in the previous month. This was mainly driven by higher fuel prices.

On a year-on-year basis, the WPI data last month showed a faster growth than in February 2021, when it stood at 4.83 per cent.

“The higher rate of inflation in February, 2022 is mainly due to increase in the prices of mineral oils, base metals, chemicals and chemical products, crude petroleum and natural gas, food items and non-food items etc. as compared to the corresponding month. of last year,” the Ministry of Commerce and Industry said in its review of the ‘Index Number of Wholesale Prices in India’ for February.