Wholesale Inflation Cools to 5.70 Percent Even as Food Prices Heat up
Inflation based on the wholesale price index slipped to 5.70 per cent in March as manufactured goods showed cost decline even as food prices hardened.
File photo of a labourer sitting on sacks of food grains while waiting for customers at a wholesale market. (Image: Reuters)
New Delhi: Inflation based on the wholesale price index slipped to 5.70 per cent in March as manufactured goods showed cost decline even as food prices hardened.
The WPI inflation, reflecting the annual rate of price rise, in February was 6.55 per cent. In March 2016, the print came in at (-)0.45 per cent.
This is primarily because of a steep price jump in vegetables where inflation stood at 5.70 per cent. As for fruits, the figure was also high at 7.62 per cent, while for egg, meat and fish, it was 3.12 per cent.
Fuel inflation declined to 18.16 per cent, from 21.02 per cent in February.
The government also revised upwards January inflation to 5.53 per cent from the provisional estimate of 5.25 per cent.
For 2017-18, it projected retail inflation to average 4.5 per cent in the first half and 5 per cent in the second half.
Data released last week showed that retail inflation touched a five-month high of 3.81 per cent in March on costlier food items and non-food products like fuel and light.
RBI frames its monetary policy stance on the basis of retail inflation.
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