WPI-based inflation accelerated to 0.53 per cent in March on an annual basis, as against 0.20 per cent in February, primarily due to increase in prices of food articles, electricity, crude petroleum & natural gas, machinery & equipment and other manufacturing, etc.
India’s wholesale price index (WPI)-based inflation accelerated to 0.53 per cent in March on an annual basis, as against 0.20 per cent in February, stated the provisional data released by the Ministry of Commerce & Industry. WPI inflation stood at 1.34 per cent in March 2023. Positive rate of inflation in March 2024, the ministry added, is primarily due to increase in prices of food articles, electricity, crude petroleum & natural gas, machinery & equipment and other manufacturing, etc.
The sequential change in WPI index for the month of March stood at 0.40 per cent as compared to 0.07 per cent in February 2024.
Inflation for food articles, per the release, stood at 4.65 per cent in March as against 4.09 per cent in February. For the primary articles, the inflation rate came in at 4.51 per cent from 4.49 per cent in the previous month. The fuel and power inflation contracted to -0.77 per cent as against a contraction of -1.59 per cent in February. Further, manufactured products inflation stood at -0.85 per cent in March.
In food articles, inflation in vegetables was 19.52 per cent in March, down from 19.78 per cent in February. Wheat inflation during the month was at 7.43 per cent, while pulses was at 17.24 per cent. Milk was up 4.73 per cent and eggs, meat & fish posted inflation at -1.86 per cent. Potato and onion posted a major surge in inflation at 52.96 per cent and 56.99 per cent respectively.
The non-food articles reported wholesale inflation at -4.13 per cent. Crude Petroleum & Natural gas reported wholesale inflation for the month of March at 4.87 per cent and crude petroleum was at 10.26 per cent.
Earlier last week, India’s retail inflation based on the Consumer Price Index (CPI) declined to a 10-month low of 4.85 per cent in March from 5.09 per cent in February, on account of the statistical effect of a high base as the overall index remained flat sequentially. In March 2023, CPI inflation was at 5.66 per cent.
Source:financialexpress.com