The annual rate of inflation, based on monthly WPI, stood at -0.91% (provisional) for the month of February, 2016 (over February, 2015) as compared to -0.90% (provisional) for the previous month and -2.17% during the corresponding month of the previous year.
Build up inflation rate in the financial year so far was -1.19% compared to a build up rate of -2.61% in the corresponding period of the previous year.
The index for the manufacturing group rose by 0.3 percent for the month of Feb 2016. For the month of December, 2015, the final Wholesale Price Index for ‘All Commodities' stood at 176.8 as compared to 177.4 (provisional) and annual rate of inflation based on final index stood at -1.06 percent as compared to -0.73 percent (provisional) respectively as reported on 14.01.2016.
The Inflation was slightly better than expectations. Investors and economists would, however, look for the CPI Inflation data that is due later today.
The Reserve Bank of India is widely expected to cut interest rate in its policy review in April. This is after the government adhered to the fiscal deficit target of 3.5 per cent for 2016-17.