WPI inflation eases to 2.48% in February

WPI inflation eases to 2.48% in February

Wholesale prices climbed 2.48 percent year-over-year in February, slower than January's 2.84 percent rise.

The wholesale price index-based (WPI) inflation eased to a seven-month low of 2.48% in February, helped by food and fuel prices. The inflation for the food articles, from primary group and manufactured products group, decreased to 0.07% in February from 1.65% in the previous month.

Several analysts said they would monitor how a hike in import taxes last month across agri-commodities such as oilseeds, pulses and wheat would impact domestic food inflation.

While inflation in vegetables softened to 15.26% compared with 40.77% in January while that in onions reigned high at 118.95% albeit lower than 193.89% rise registered in the first month of the calendar year.

The cost of fuel and power, which commands a 13.15 per cent weightage in the index, increased at a slower pace of 3.81 per cent during the month, from a growth of 4.08 per cent in January.

India's retail inflation rate, the main policy target for the RBI, declined for the second straight month in February, to 4.44%, but remained above the central bank's 4% medium-term target.

However, WPI inflation for manufactured items was higher compared in February at 3.04 per cent compared to 2.78 per cent in January.

The index for "Crude Petroleum and Natural Gas" group rose by 2.9 per cent to 80.6 (provisional) from 78.3 (provisional) for the previous month due to higher price of crude petroleum (3 per cent) and natural gas (2 per cent).

The consumer price index (CPI)-based retail inflation has also eased to 4.44% in February, as per the data released earlier.

Related Articles

  • The Natural Resource Partners (NRP) Earning Somewhat Positive Media Coverage, Report Shows

    The stock of Alliance Resource Partners , L.P. (NASDAQ:ARLP) earned "Outperform" rating by FBR Capital on Wednesday, November 23. The stock of Natural Resource Partners L.P. (NYSE: NRP ) has "Market Perform" rating given on Thursday, August 6 by Cowen & Co.
    Daiwa Securities Group Inc. Sells 3366 Shares of Newell Brands Inc (NWL)

    Daiwa Securities Group Inc. Sells 3366 Shares of Newell Brands Inc (NWL)

    The $25 million in Newell shares equates to a stake of about 0.2 percent in the company, according to Reuters calculations. Jay Petschek increased its stake in Ball Corp (BLL) by 16.78% based on its latest 2017Q3 regulatory filing with the SEC.
    Sources say Davis announcement as Ole Miss coach will come Thursday

    Sources say Davis announcement as Ole Miss coach will come Thursday

    The Leakesville native has led Middle Tennessee State to almost 400 wins, three NCAA Tournaments, and two NITs in 16 seasons. Ole Miss is expected to hire Middle Tennessee's Kermit Davis as its new basketball coach, according to multiple reports .
  • Long Term Growth Stock in Review: Cavium, Inc. (NASDAQ:CAVM)

    It is negative, as 45 investors sold CAVM shares while 65 reduced holdings. 91 funds opened positions while 196 raised stakes. The rating was maintained by Jefferies on Thursday, February 15 with "Buy". (NASDAQ: CAVM ) to report earnings on April, 25.
    Full details on kicker Chandler Catanzaro's contract

    Full details on kicker Chandler Catanzaro's contract

    It remains to be seen if the Bucs would re-sign him, or seek another kicker as competition for Catanzaro. Catanzaro signed a three-year deal with the Bucs worth $9.75 million with $3.75 million guaranteed.

    A Fresh Look At NIKE, Inc. (NYSE:NKE)

    Analysts have a consensus recommendation of 2.30 based on a 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell. Baird reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Nike in a report on Friday, November 17th.
  • New York Jets working on a deal with Teddy Bridgewater

    New York Jets working on a deal with Teddy Bridgewater

    ESPN's Chris Mortenson says the deal is for one year and comes off the Jets already signing Josh McCown. McCown also tweeted a picture of himself in a Jets uniform pumping both fists during a game.

    Featured Stock for Investors: Whiting Petroleum Corp. (WLL)

    Lucas Cap Management accumulated 0.07% or 14,600 shares. (The Scale is from 1-5 where 1 means Strong Buy and 5 means Strong Sell). The rating was maintained by Cantor Fitzgerald on Thursday, February 25 with "Buy". (NYSE:MET) rating on Wednesday, November 11.
    Washington re-signs K Hopkins

    Washington re-signs K Hopkins

    The terms of the deal have yet to be disclosed, but regardless of the dollar signs, a deal was inevitable, and necessary. Since joining the team's roster, Hopkins has completed 73-of 87 field goal attempts and 93 of 98 PATs.
  • Infosys to Create Hub in Hartford, Bring 1000 Jobs

    Infosys to Create Hub in Hartford, Bring 1000 Jobs

    Infosys said it recently opened a similar hub in IN, and that two more are coming in North Carolina and Rhode Island. Congressman John Larson said this was a boon for Hartford and the state.
    Pope Benedict strongly defends pontificate of Pope Francis

    Pope Benedict strongly defends pontificate of Pope Francis

    The Holy See has yet to release the full text of the letter Pope Emeritus Benedict XVI sent to Msgr. They say Francis is merely emphasizing "discernment" to navigate complex pastoral situations.

    Turquoise Hill Resources Ltd. (TRQ) — Trending Stock Overview

    Similarly, the company has Return on Assets of 1.8 percent, Return on Equity of 2.5 percent and Return on Investment of 1 Percent. Turning to Matador Resources Company (NYSE:MTDR), its shares were trading at $28.3 a retreat of $-0.13, on the trading floor.