India | Inflation picks up in February on higher food prices

Summary

After a four-month moderating trend, wholesale price inflation unexpectedly rose in February, to 6.95% y/y from 6.55% in the previous month (BBVA: 6.4% y/y; consensus: 6.7%). The upturn was driven by a jump in food prices (5.9% y/y vs 1.6% in January).

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