Wholesale inflation increased marginally to 0.53 percent in March, compared to 0.20 percent in February. Loktej Business News
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New Delhi, April 15 (Hindustan Reporter) Due to increase in the prices of vegetables, potatoes, onions and crude oil in the country, the wholesale inflation rate has increased marginally to 0.53 percent in March. In February this year, this rate was 0.20 percent.
According to the data released by the Ministry of Commerce and Industry on Monday, the wholesale inflation rate based on Wholesale Price Index (WPI) stood at 0.53 percent on an annual basis in March 2024. Last month in February it was 0.20 percent. In fact, the WPI based wholesale inflation rate remained continuously below zero from April to October. However, in November, 2023 it was 0.26 percent, whereas in December, 2022 it was at the level of 5.02 percent.
According to the data released by the ministry, the inflation of potatoes was 25.59 percent in March 2023, which was 52.96 percent in March 2024. Similarly, the inflation of onion has been 56.99 percent, which was minus 36.83 percent in March 2023. According to the data, due to increase in global crude oil prices, inflation in the crude petroleum segment has increased by 10.26 percent in March. However, fuel and electricity inflation declined to minus 0.77 percent in March.
The retail inflation rate based on CPI released last week by the National Statistical Office (NSO) has come down to a five-month low of 4.85 percent due to the fall in food prices, but the inflation of food items stood at 8.52 percent in March, which is It was 8.66 percent in February.
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