New Delhi, March 12 (IANS): The consumer price index-based inflation, or retail inflation, for February slowed to 8.10 percent as compared to 8.79 percent in the previous month, government data showed Wednesday.

The corresponding provisional inflation rates for rural and urban areas for February 2014 are 8.51 percent and 7.55 percent respectively.

Inflation rates for rural and urban areas for January 2014 were 9.35 percent and 8.09 percent respectively, the data stated.

Food inflation for February 2014 stood at 8.57 percent compared to 9.9 percent in January 2014.

Reacting to the fall in retail inflation for February, industry bodies urged a lowering of lending rates to stimulate industrial activity.

"Since WPI (wholesale) inflation and CPI (retail) inflation are in the softening trend and subsiding month after month, RBI at this juncture should come forward to reduce the policy rates and help the industrial activity to recover at a faster pace," Sharad Jaipuria, President, PHD Chamber of Commerce said in a statement here.

“The RBI needs to take a constructive view while undertaking the mid-quarter review of its credit policy later in the week. The weak supply response arising out of difficult business conditions needs the attention of policy makers,” industry chamber Assocham said in a statement.