Mumbai, April 15: The wholesale price index (WPI) based inflation rate increased to 3.88% in March, up from 2.13% in February, as reported by the Ministry of Commerce and Industry on Wednesday.
The rise in wholesale inflation is primarily attributed to surges in the prices of crude oil, natural gas, non-food items, basic metals manufacturing, and food products.
According to the data, fuel and energy prices saw a 4.13% increase in March compared to February. Mineral oil prices rose by 8.77% during the same period. However, electricity prices experienced a decline of 5.07% in March.
The ministry noted that out of 22 manufacturing groups, 16 reported price increases in March, while six experienced declines. The wholesale food inflation rate remained steady at 1.85%, the same level as in February.
Earlier, the Ministry of Statistics and Programme Implementation released retail inflation figures, which showed an annual rate of 3.4% in March, reflecting a sequential increase of 0.19% from February’s 3.21%.
The ministry indicated that rural retail inflation stood at 3.63%, while urban retail inflation was at 3.11% in March.
Food inflation was recorded at 3.87% in March, up from 3.47% in February. In rural areas, food inflation reached 3.96%, while in urban areas, it was 3.71%.
Last month, the top five items with the lowest inflation rates nationally included onions at -27.76%, potatoes at -18.98%, garlic at -10.18%, arhar dal at -9.56%, and peas and chickpeas at -7.87%. All these items recorded negative inflation rates on an annual basis.
Conversely, the top five items with the highest inflation rates included silver jewelry at 148.61%, gold/diamond/platinum jewelry at 45.92%, copra at 45.52%, tomatoes at 35.99%, and cauliflower at 34.11%. These items all experienced positive inflation rates year-on-year.
–
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment