Inflation figure for December 2013 revised upwards to 6.4% from 6.16% reported earlier
The Wholesale Price Index (WPI) based inflation declined to nine-month low of 4.68% in February 2014 from 5.05% in January 2014, while the inflation reading in February 2014 was also second lowest in last 52-months. The inflation rate eased for third straight month in February 2014, while consistent correction in vegetables prices mainly contributed to the overall decline in inflation.The inflation for primary articles further eased to 6.3% in February 2014 from 6.8% in January 2014 and 34-months high of 15.3% in November 2013. The inflation for fuel and power group also dipped from 10% in January 2014 to 8.8% in February 2014, while the inflation for manufactured products was flat at 2.8% in February 2014.
As per the major commodity group wise inflation, the decline in inflation for vegetables, 'egg, meat & fish', spices, flowers, crude petroleum, coal, mineral oils, sugar, tea, cotton shirts, automotives etc helped the inflation to ease in February 2014. On the other hand, the inflation for milk, fruits, oilseeds, paper & paper products and chemical products showed an increase in February 2014 from January 2014 level.
The inflation for food items (food articles and food products) eased to 5.6% in February 2014 from 6.2% in January 2014. Meanwhile, the inflation for non-food items (all commodities excluding food items) also eased to 4.4% in February 2014 from 4.6% in January 2014. The core inflation (manufactured products excluding foods products) inched up slightly to 3.15% in February 2014 from 3.04% in January 2014.
The contribution of primary articles to the overall inflation eased to 35.4% (at 167 bps to 4.68% inflation) in February 2014 from 35.6% (at 181 bps of 5.05%) in January 2014. The contribution of fuel product group dipped from 33.5% (170 bps) in January 2014 to 31.6% (149 bps) in January 2014, while that of manufactured products increased from 30.9% (156 bps) to 33% (156 bps) in February 2014.
The contribution of food item (food articles and food products) to inflation eased from 34.3% (174 bps) in January 2014 to 32.9% (156 bps) in February 2014, while that of non-food items (all commodities excluding food items) increased from 66% (335 bps) in February 2014 to 67.3% (318 bps) in February 2014.
The inflation figure for December 2013 has been revised upwards to 6.4% from 6.16% reported earlier, while that for January 2014 has been retained unchanged at 5.05%.
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