WPI inflation at 2.47 pct in March

WPI inflation at 2.47 pct in March
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New Delhi: India’s annual wholesale price inflation slightly eased in March, at 2.47 percent, a nine-month low, owing to a fall in prices of vegetables and other food and beverages, data from Ministry of Commerce & Industry revealed on Monday.

“The official Wholesale Price Index (WPI) for ‘All Commodities’ for the month of March, 2018 rose by 0.2 percent to 116.0 (provisional) from 115.8 (provisional) for the previous month,” the notification said.

The annual rate of inflation, based on monthly WPI, stood at 2.47 percent (provisional) for the month of March, 2018 (over March, 2017) as compared to 2.48 percent (provisional) for the previous month and 5.11 percent during the corresponding month of the previous year.

Meanwhile, the build up inflation rate in the financial year so far was 2.47 percent compared to a build up rate of 5.11 percent in the corresponding period of the previous year.

The index for ‘Food Articles’ group declined by 0.4 percent to 137.2 from 137.8 for the previous month due to lower price of egg, gram, tea, coffee, poultry chicken and condiments and spices, among others.

However, the price of ragi, jowar, peas, moong, betel leaves, wheat, paddy and pork moved up.

The index for ‘Non-Food Articles’ group declined by 0.3 percent 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.

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

Meanwhile, the index for ‘Minerals’ group declined by 2 percent to 119.7 from 122.2 for the previous month due to lower price of copper concentrate and phosphorite.

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

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