Agencies, New Delhi
India’s wholesale inflation grew 2 point 47 per cent in March as prices of vegetables and other food and beverages softened, latest price data released by the Commerce and Industry Ministry on Monday showed.
“The annual rate of inflation, based on monthly WPI, stood at 2.47 per cent (provisional) for the month of March, 2018 (over March, 2017) as compared to 2.48 per cent (provisional) for the previous month and 5.11 per cent during the corresponding month of the previous year,” a ministry statement said.
Wholesale inflation rate, measured by Wholesale Price Index (WPI), is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.
WPI witnessed a growth of 2.48 per cent in February. Also, January WPI inflation has been revised to 3.02 per cent from 2.84 per cent.
Index for in primary articles inflation, which account for more than a fifth of the entire wholesale price index, declined by 0.5 per cent in March from 0.79 per cent in February.
Index for prices of vegetables fell 2.7 per cent.
The index for non-food articles group declined by 0.3 per cent to 120.2 (provisional) from 120.6 (provisional) due to lower price of guar seed, niger seed, floriculture, raw cotton, cotton seed, and skins.
Prices of pulses continued to slump with the inflation falling at 20.58 per cent in March compared to fall of 24.51 per cent in February.
Fuel and power inflation, which has a weightage of 13.15 per cent in WPI, declined by 0.1 per cent in March, month-on-month.