New Delhi, 17 April (Hindustan Times). There is news to give relief to the common man on the front of inflation. After the retail inflation, there has been a big decline in the inflation rate based on the Wholesale Price Index (WPI). The wholesale inflation has come down to a 29-month low of 1.34 per cent in March. It stood at 3.85 per cent in February and 4.73 per cent in January. Although the wholesale inflation rate in March 2022 was 14.62 percent.
The Ministry of Commerce and Industry said in the data released on Monday that the wholesale inflation rate has come down to 1.34 percent in March. This decline in WPI-based WPI is mainly due to lower prices of manufactured articles and fuel. However, inflation in food items rose to 5.48 per cent in March from 3.81 per cent in February.
According to the data, wholesale inflation in wheat and pulses stood at 9.16 per cent and 3.03 per cent respectively in the month of March. The inflation rate of vegetables has been 2.22 percent, while the wholesale inflation of oilseeds has been 15.05 percent in March. However, the wholesale inflation of fuel and power came down to 8.96 per cent in March, compared to 14.82 per cent in February. Food inflation stood at 2.32 per cent in the month of March. In its previous month, food inflation was 2.76 per cent in February.
According to the ministry, wholesale inflation in manufacturing products declined to 0.77 per cent in March, compared to 1.94 per cent in February. Wholesale price inflation in potatoes has come down to -23.67 per cent in March, while it stood at -14.30 per cent in February. However, the wholesale inflation rate of onions increased marginally to -36.83 per cent in March, as against -40.14 per cent in February.
It is noteworthy that the Consumer Price Index (CPI) based retail inflation had come down to a 15-month low of 5.66 per cent in March from 6.44 per cent in the month of February.
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