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India’s annual wholesale price-based inflation accelerated to 13.11 per cent in February from the previous month’s 12.96 per cent, government data showed on Monday.
February’s figure was higher than 12.10 per cent forecast in a Reuters poll of analysts, amid higher fuel prices, which were up 31.50 per cent on the year, versus 32.27% in January.
Following Russia’s invasion of Ukraine, crude oil prices have skyrocketed – in March alone, they have surged about 35 per cent – which will in turn push up fuel, transport and other related components of inflation this month.
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