Meanwhile, the deflation in fuel and power category narrowed to -0.71 per cent in February from -2.78 per cent in January. The prices for cooking gas decelerated (0.9 per cent) while the prices of petrol (-4.21 per cent) and high-speed diesel (-3.2 per cent) remained in contraction during the month.

India's wholesale inflation in February accelerated to 2.38% year-on-year, from 2.31% in January, government data showed on Monday.

U.S. wholesale inflation decelerated last month, suggesting that price pressures are easing for now. But the progress may not last as President Trump intensifies his trade wars. The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — was unchanged from January