Twitter
Advertisement

WPI inflation at minus 0.85% in March; remains in negative zone for 17th month

The Wholesale Price Index-based inflation for the month was higher than minus 0.91% in February this year.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

Wholesale price-based inflation remained in the negative zone for the 17th month in a row at minus 0.85% in March even as prices of some food articles, mainly pulses, turned costlier.

The March Wholesale Price Index-based inflation was higher than minus 0.91% in February. In March last year, it was minus 2.33%.

This is the 17th straight month since November 2014 when deflationary pressure persisted.

Food inflation stood at 3.73% in March compared with 3.35% in February, showed official data released on Monday.

Inflation in vegetables came in at minus 2.26% in March while the same in pulses was high at 34.45%.

Onion and fruits saw an easing of prices, with these sub-indices falling by 17.65% and 2.13%, respectively.

The inflation print in the fuel and power segment was minus 8.30%, and for manufactured products, it read minus 0.13% in March.

The January Wholesale Price Index (WPI) inflation has been revised lower to minus 1.07% from the provisional estimate of minus 0.90%.

The Reserve Bank of India (RBI) mainly looks at retail inflation data while firming up its monetary policy stance. Retail inflation in March fell to a six-month low of 4.83%.

RBI earlier this month cut the key policy rate by 0.25% and projected retail inflation to be around 5% this fiscal.

It had said there were uncertainties over unseasonal rains, the likely spatial and temporal distribution of the monsoon, the low reservoir levels by historical averages, and the strength of the recent upturn in commodity prices, especially oil.

The Met department, however, later forecast an above-normal monsoon for this year. 

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement