India's wholesale inflation rises to 2.5-year high
The Wholesale Price Index (WPI)-based inflation in January expanded to a 30-month high at 5.25% year-on-year, as against 3.39% in December. The rise was attributed to a surge in fuel prices, which jumped 18.14%, the fastest since October 2008. Notably, oil prices have been on a rise since OPEC decided to cut output for the first time in eight years.