New Delhi: India’s wholesale inflation eased to a four-month low in March. Data released by the Ministry of Commerce & Industry showed this.
Wholesale inflation rose 2.05% year-on-year in March, down from 2.38% in February, and lower than the 2.5% forecast by economists in a Reuters poll.
Food prices, which make up 24.38% of the index, increased by 4.66% in March, a notable slowdown from the 5.94% rise in February. Cereal prices rose 5.49% year-on-year in March, easing from the 6.77% increase recorded in February. Meanwhile, vegetable prices contracted by 15.88%, a deeper drop than the 5.80% decline the previous month. Fruit prices rose 20.78%, nearly unchanged from February’s 20.88% increase.
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Manufactured product prices, which account for about 64% of the wholesale price index, increased by 3.07% in March, up from a 2.86% rise in February. Fuel and power prices edged up by 0.20% in March, reversing the 0.71% contraction seen in February.
The prices of primary articles—covering food, non-food articles, minerals, crude oil, and natural gas—rose by 0.76% in March, a slowdown from the 2.81% rise in February. Non-food articles saw a 1.75% rise, compared to a 4.84% increase the previous month.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India are made after reviewing the CPI.
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