India’s wholesale price inflation, which is measured by the WPI index, stood at 0.53% y-o-y in March 2024. It is up from 0.20% in February. The Ministry of commerce and Industry provided the provisional numbers. According to the ministry, the rising inflation rate in March is led by a rise in prices of food articles, electricity, crude petroleum and natural gas, machinery and equipment, and other manufacturing sectors. According to the ministry, the WPI index showed a sequential change of 0.40% in March, versus 0.07% in February 2024.
Food articles witnessed an inflation rate of 4.65% in March, up from 4.09% in February. Primary articles inflation rose marginally to 4.51% from 4.49% in the previous month.
However, fuel and power inflation contracted to -0.77%, an improvement from the -1.59% contraction in February. Manufactured products inflation stood at -0.85% in March.
Within the food articles category, vegetable inflation was 19.52% in March, slightly down from 19.78% in February. Wheat inflation was 7.43%, while pulses saw an inflation rate of 17.24%.
Milk prices rose 4.73%, and eggs, meat, and fish posted a combined inflation rate of -1.86%. Notably, potato and onion prices surged significantly, with inflation rates of 52.96% and 56.99%, respectively.
