The Wholesale Price Index (WPI)-based inflation was at 2.93% and 2.76% in February and January this year, respectively, and 3.46% in December 2018
Wholesale price inflation rose to a 3-month high of 3.18% in March on costlier food and fuel, government data released Monday showed.
The Wholesale Price Index (WPI)-based inflation was at 2.93% and 2.76% in February and January this year, respectively, and 3.46% in December 2018. It was 2.74% in March last year. Inflation in the 'food articles' basket hardened to 5.68% during March 2019 as against 4.28% in February, as prices of vegetables skyrocketed.
Vegetable inflation was at 28.13% in March, up from 6.82% in the previous month. However, inflation in potato cooled substantially to 1.30%, from 23.40% in February.Pulses and wheat witnessed some cooling in inflation at 10.63% and 10.13%, respectively. Also protein rich items such as 'egg, meat and fish' saw inflation fall to 5.86% during March.
Deflation in onion was 31.34%, while the same in fruits was 7.62% during the month.Wholesale inflation in the 'fuel and power' category, however, spiked to 5.41%, from 2.23% in February.
Inflation is diesel shot up to 7.33% during the month from 3.72% in February. In petrol, inflation was 1.78% in March, as against a deflation of 2.93% in the previous month.The Reserve Bank of India, which mainly factors in retail inflation for monetary policy decision, had earlier this month cut interest rates by 0.25% to 6%, while projecting retail inflation to be at 2.9-3%, mainly due to lower food and fuel prices as well as normal monsoon.
Meanwhile, the India Meteorological Department Monday forecast that monsoon is likely to be "near normal" this year.Data released last week showed retail inflation accelerated to 2.86% in March from 2.57% a
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