India's Retail Inflation Rises to 3.21 Percent in February

Key Figures:

• 3.21%: India's retail inflation rate in February
• 2.74%: Revised retail inflation rate in January
• 3.35%: Year-on-year inflation in food and beverages
• 2.81%: Year-on-year inflation in clothing and footwear
• 19.64%: Year-on-year inflation in personal care, social protection, and miscellaneous goods and services

India's retail inflation rate rose to 3.21% in February, up from a revised 2.74% in January, according to data released by the Ministry of Statistics and Programme Implementation on March 12. The increase in inflation was driven primarily by food and beverages, which saw a year-on-year rise of 3.35%.

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Food and Beverage Prices Continue to Rise

The prices of food and beverages remained a major driver of inflation in February, with a year-on-year increase of 3.35%. This was the highest increase among all components of the Consumer Price Index (CPI) basket for February.

Personal Care and Miscellaneous Goods Experience Significant Price Hikes

The most striking increase came from personal care, social protection, and miscellaneous goods and services, where inflation surged to 19.64%, making it the fastest rising component in the CPI basket for February.

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Gold and Silver Prices Contribute to High Inflation

The prices of gold and silver also contributed to high inflation, with some services seeing a price rise of up to 8%.

Key Commodities in Deflation

On the other hand, tomato, onion, potato, and dal remained in deflation, indicating a decrease in their prices.