Country’s annual rate of inflation based on wholesale prices rose to 39-month high of 6.55 per cent in February from 5.25 per cent in the previous month.
According to the Wholesale Price Index (WPI) data released by the Commerce and Industry Ministry, food prices witnessed a sharp rise by 2.69 per cent in February as compared to a deceleration by 0.56 per cent in the previous month.
This was primarily because of sharp rise in rates of cereals, rice and fruits. The fuel basket also surged by 21.02 per cent from 18.14 per cent in January.
The annual inflation rate was (-)0.85 per cent in February 2016.
Meanwhile, the government has revised December inflation rate to 3.68 per cent from the previous provisional reporting of 3.39 per cent.