India Inflation February 2021


India: Inflation increases in February

March 12, 2021

Consumer prices rose 0.19% in February over the previous month, swinging from the 0.64% fall recorded in January. The bounce back in price pressures was largely driven by increased prices for clothing and footwear, while food and beverages prices fell at a less pronounced pace in February.

Inflation came in at 5.0% in February, above January’s 4.1%. Meanwhile, the trend pointed down slightly, with annual average inflation coming in at 6.2% in February (January: 6.3%).

FocusEconomics Consensus Forecast panelists project consumer price inflation to average 4.6% in FY 2021, which ends in March 2022. The estimate is unchanged from last month’s forecast. In FY 2022, the panel projects consumer price inflation to average 4.3%. Meanwhile, our panel sees wholesale inflation averaging 3.6% in FY 2021, which is down 0.7 percentage points from last month’s report, and 2.8% in FY 2022.


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India Inflation Chart

India Inflation February 2021

Note: Annual and monthly variation of wholesale price index (WPI) and annual variation of consumer price index (CPI) in %.
Source: Ministry of Commerce and Industry and FocusEconomics calculations.

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