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WPI inflation rises to four-month high of 14.55 %: Govt data

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Google Oneindia News

New Delhi, Apr 18: India's inflation based on the Wholesale Price Index (WPI) surged to 14.55 per cent in March from 13.11 per cent registered in the month of March, the Government of India said in a statement.

WPI inflation rises to four-month high of 14.55 %: Govt data

The high rate of inflation in March, 2022 is primarily due to the rise in prices of crude petroleum and natural gas, mineral oils, basic metals, etc owing to disruption in the global supply chain caused by Russia-Ukraine conflict, the government data said.

The wholesale price-based inflation in March is the highest in four months. It is almost double from 7.89 per cent recorded in March 2021. The annual rate of inflation is 14.55% (Provisional) for the month of March, 2022 (over March, 2021) as compared to 7.89% in March, 2021.

The WPI-based inflation has remained in double digits for the last 12 months.

Fuel and power inflation soared to 34.52 per cent in March from 31.50 per cent in the previous month.
Primary Articles (Weight 22.62%):-The index for this major group increased by 2.10% to 170.3 (provisional) in March, 2022 from 166.8 (provisional) for the month of February, 2022. Prices of Crude Petroleum & Natural Gas (21.18%), Minerals (9.72%) and Non-food Articles (2.94%) increased in March, 2022 as compared to February, 2022. Prices of Food Articles (-0.82%) declined in March, 2022 as compared to February, 2022.

Fuel & Power (Weight 13.15%):-The index for this major group increased by 5.68% to 146.9 (provisional) in March, 2022 from 139.0 (provisional) for the month of February, 2022. Prices of Mineral Oils (9.19%) increased in March, 2022 as compared to February, 2022.

Manufactured Products (Weight 64.23%):-The index for this major group increased by 2.31% to 141.6 (provisional) in March, 2022 from 138.4 (provisional) for the month of February, 2022. Out of the 22 NIC two-digit groups for manufactured products, 18 groups that have witnessed increase in prices while 3 groups have witnessed decrease in prices in March, 2022 as compared to February, 2022.

The increase in prices is mainly contributed by basic metals, food products, chemical & chemical products and textiles. Some of the groups that have witnessed decrease in prices are manufacture of other transport equipment; pharmaceuticals, medicinal chemical & botanical products; beverages in March, 2022 as compared to February, 2022.

While the Manufacture of wearing apparel remain unchanged in March, 2022 as compared to February, 2022.

WPI food index (Weight 24.38%): The Food Index consisting of 'Food Articles' from the Primary Articles group and 'Food Product' from the Manufactured Products group has increased from 166.4 in February, 2022 to 167.3 in March, 2022. The rate of inflation based on WPI Food Index increased from 8.47% in February, 2022 to 8.71% in March, 2022.

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