Wholesale inflation eases to 2.47% in March following cheaper food prices

NewsBharati    16-Apr-2018
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New Delhi, April 16: India’s annual inflation based on wholesale price index (WPI) had eased to 2.47% in March 2018. The fall was propelled by the cheaper rate of food articles, the government data stated today.

According to the government data, WPI inflation was 2.48 % in February and 5.11% in March last year. Also, the wholesale food prices had dropped 0.07% year-on-year, compared to a 0.07% rise in February 2018.

The index for ‘Food Articles’ group declined by 0.4 percent to 137.2 (provisional) from 137.8 (provisional) for the previous month due to lower price of egg (5%), gram, tea, coffee, poultry chicken and condiments & spices (3% each), rajma (2%) and fish-inland, masur, bajra, fruits & vegetables and beef and buffalo meat (1% each).

However, the price of ragi (3%), jowar and fish-marine (2% each) and peas/chawali, moong, betel leaves, wheat, paddy and pork (1% each) moved up.

The index for ‘Non-Food Articles’ group declined by 0.3 percent to 120.2 (provisional) from 120.6 (provisional) for the previous month due to lower price of guar seed (7%), niger seed (6%), floriculture (5%), raw cotton, cotton seed, skins (raw) and gingelly seed (3% each), copra (coconut) (2%) and linseed, castor seed, raw jute, groundnut seed and rape & mustard seed (1% each).

However, the price of raw silk (7%), mesta and hides (raw) (5% each), sunflower (4%), soyabean (3%), fodder (2%) and raw wool, coir fibre and raw rubber (1% each) moved up.

The index for ‘Minerals’ group declined by 2.0 percent to 119.7 (provisional) from 122.2 (provisional) for the previous month due to lower price of copper concentrate (14%) and phosphorite (1%). However, the price of iron ore (15%), chromite (13%), manganese ore (6%), limestone (5%) and zinc concentrate and lead concentrate (1% each) moved up.

The index for ‘Crude Petroleum & Natural Gas’ group declined by 0.5 percent to 80.2 (provisional) from 80.6 (provisional) for the previous month due to lower price of crude petroleum (1%).

Meanwhile, the index for fuel and power group declined by 0.1 percent and the index for manufactured products group rose by 0.4 percent to 115.7 (provisional) from 115.2 (provisional) for the previous month.

Inflation rate Wholesale Inflation Commodities Inflation food prices Economy financial year WPI