Economy

Wholesale inflation eases to 2.47% in March; pulses to get cheaper

Wholesale inflation eases to 2.47% in March; pulses to get cheaper”

Inflation based on wholesale prices eased marginally to 2.47% in March on cheaper food articles, especially pulses and vegetables.

On the basis of Wholesale Price Index (WPI), inflation was 2.48% in February and 5.11% in March past year.

The index for manufactured goods rose by 0.4 percent to 115.7 (provisional) from 115.2 (provisional) for the previous month.

Index of primary articles in WPI declined by 0.5% to 127.4 (provisional) from 128 (provisional) for the previous month.

The index for this major group rose by 0.4% to 115.7 (provisional) from 115.2 (provisional) for the previous month.

Deflation in vegetables was 2.70 percent, pulses (20.58 percent) and wheat (1.19 percent) in March. However, the price of rectified spirit (2%) and country liquor (1%) declined.

However, the price of raw silk, mesta and hides, sunflower, soyabean, fodder, raw wool, coir fibre and raw rubber moved up.

The inflation data for January was revised upwards to 3.02 per cent from the provisional estimate of 2.84 per cent. However, the price of iron ore (15%), chromite (13%), manganese ore (6%), limestone (5%) and zinc concentrate and lead concentrate (1% each) moved up.

Meanwhile, the index for "Minerals" group declined by 2% to 119.7 from 122.2 for the previous month due to lower price of copper concentrate and phosphorite.

On a sequential basis, expenses on primary articles, which constitute 22.62 per cent of the WPI's total weightage, inched up by 0.24 per cent, from an increase of 0.79 per cent in February.

It was only manufacturing index who saw uptick in March month supporting the growth in WPI. This index holds 64.23% of WPI.

On April 12, the data released by the Central Statistics Office (CSO) showed that lower food prices eased March retail inflation to 4.28 per cent from 4.44 per cent in February 2018.

Prices of non-food articles fell (-) 1.39 percent in March, compared with 3.83 percent a year ago and (-) 2.66 percent in February.



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