Annual rate of inflation based on wholesale prices rose to 2.93 per cent in February from 2.74 per cent reported for the corresponding month of 2018, official data showed on Thursday.

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of February, 2019 rose by 0.3 percent to 119.5 (provisional) from 119.2 (provisional) for the previous month, said an official statement.

The annual rate of inflation, based on monthly WPI, stood at 2.93% (provisional) for the month of February, 2019 (over February, 2018) as compared to 2.76% (provisional) for the previous month and 2.74% during the corresponding month of the previous year, it added.

Even on a sequential basis, the Wholesale Price Index (WPI) data for February, furnished by the Ministry of Commerce and Industry, showed that wholesale prices rose on a faster rate than the rise of 2.76 per cent reported for January 2019.

"Build up inflation rate in the financial year so far was 2.75 per cent compared to a build up rate of 2.56 per cent in the corresponding period of the previous year," it added.

The index for 'Crude Petroleum & Natural Gas' group rose by 1.8 percent to 84.8 (provisional) from 83.3 (provisional) for the previous month due to higher price of crude petroleum (2%) and natural gas (1%).

The index for manufactured products rose by 0.2 percent to 118.1 (provisional) from 117.9 (provisional) for the previous month.