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News Details

WPI inflation spikes to over 8-year high of 7.39% in March

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15/04/2021 15:49
The wholesale price-based inflation shot up to over 8-year high of 7.39 per cent in March on rising crude oil and metal prices.

Also, the low base of March last year, when the data was computed with a low response rate due to the nationwide lockdown, contributed to the spike in inflation in March 2021.

The WPI inflation was 4.17 per cent in February 2021 and 0.42 per cent in March 2020.

This is the third straight month of up-tick seen in the wholesale price index (WPI) based inflation.

"The annual rate of inflation stood at 7.39 per cent (provisional) for the month of March 2021 over March 2020," the Commerce and Industry Ministry said.

Such a high level of WPI was last recorded in October 2012, when inflation was 7.4 per cent.

Inflation in food articles in March was 3.24 per cent as prices of pulses, fruits and paddy hardened.

In pulses, it was 13.14 per cent in March, while in fruits and paddy, inflation was 16.33 per cent and 1.38 per cent, respectively.

In vegetables, the rate of price rise softened to (-) 5.19 per cent, against (-) 2.90 per cent in the previous month.

Inflation in the fuel and power basket was 10.25 per cent in March, against 0.58 per cent in February on higher fuel prices. In manufactured products, inflation was 7.34 per cent.

"The prices of crude oil, petroleum products and basic metal substantially increased in March 2021 as compared to the corresponding month of last year. Also, due to nationwide lockdown, the WPI index for the month of March 2020 was computed with a relatively low response rate," the ministry said while releasing the WPI data.