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India Feb. Annual Inflation Accelerates More Than Expected

3/14/2012 2:31 AM ET

Annual inflation in India, based on the monthly wholesale price index, accelerated more than expected by economists in February, data released by the Ministry of Commerce and Industry showed Wednesday.

Inflation rose to 6.95 percent in February from 6.55 percent in January. Economists expected the rate of inflation to rise to 6.7 percent. The inflation rate for December was revised up to 7.74 percent from the initially reported 7.47 percent.

Build up inflation in the financial year so far was 5.95 percent compared to 8.66 percent in the corresponding period of the previous year.

Prices of primary articles climbed 6.28 percent annually, much faster than 2.25 percent rise in the preceding month. Food prices jumped 6.07 percent annually during the month after falling 0.52 percent in January.

The price index for fuel and power rose 12.83 percent year-on-year, decelerating from 14.21 percent increase in January. Growth in petrol prices slowed to 12.04 percent from 15.02 percent.

by RTT Staff Writer

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