Published: Mon, April 16, 2018
Business | By Tara Barton

Wholesale inflation cools to 2.47% in March on cheaper food items

Wholesale inflation cools to 2.47% in March on cheaper food items

India's wholesale price-indexed (WPI) inflation softened to 2.47 per cent in March from 2.48 per cent reported for the previous month, official data showed on Monday.

On the basis of Wholesale Price Index (WPI), inflation was 2.48% in February and 5.11% in March previous year.

Inflation in non-food articles too declined by 0.3% to 120.2 from 120.6 for the previous month due to lower price of guar seed, niger seed, floriculture, raw cotton, cottonseed, mustard seed, among others.

The index for "Manufacture of Beverages" group rose by 0.4% to 119.8 (provisional) from 119.3 (provisional) for the previous month due to higher price of beer (2%) and wine (1%).

However, the price of raw silk, mesta and hides, sunflower, soyabean, fodder, raw wool, coir fibre and raw rubber moved up.

The inflation data for January was revised upwards to 3.02% from the provisional estimate of 2.84%.

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However, the price of iron ore, chromite, manganese ore, limestone, zinc concentrate and lead concentrate moved up.

The data disclosed that prices of food articles dipped by (-) 0.29 per cent from an acceleration of 0.88 per cent in the previous corresponding month.

The primary articles hold weightage of 22.62% in WPI.

Going ahead, the fuel & power which bags 13.15% of total WPI, declined by 0.1% to 98.0 (provisional) from 98.1 (provisional) for the previous month. This index rose by 0.4% to 115.7 (provisional) from 115.2 (provisional) for the previous month.

"Primary food articles recorded a year-on-year disinflation after a gap of eight months in March 2018, dampened by a year-on-year contraction in all of the major categories (namely vegetables, cereals, pulses, eggs, meat and fish, other food articles, and condiments and spices) except for fruits and milk", Nayar said. In February this year, WPI inflation had come in at 2.48 per cent.

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