India’s Inflation rate rose to 9.89% in the month of February as compared to 8.56% in January. Inflation was expected to come in at 9.69%.
The Government also announced that it had revised December inflation figure to 8.10% from the provisional forecast of 7.3%.
The high inflation in February could mainly be attributed to the relentless rise in food prices. The food price index rose 17.79% in February.
Inflation in manufacturing also accelerated to 7.42% in February from 6.55% in January, indicating that inflation is no longer confined to the food space and has spilled over to the broader economy.