Wholesale Price Index: WPI inflation hits 4-month high of 14.55% in Mar as crude, commodity prices spike | India Business News – Times of India

NEW DELHI: The wholesale price-based inflation rose to a four-month excessive of 14.55 per cent in March, primarily because of hardening of crude oil and commodity costs, though greens witnessed easing of worth pressures. As per the federal government information launched on Monday, WPI inflation has remained in double digits for the twelfth consecutive month starting April 2021.
The final time such a stage of WPI was recorded was in November 2021, when inflation was 14.87 per cent.
WPI Inflation in February was at 13.11 per cent, whereas in March final 12 months, it was 7.89 per cent.
Through the month, inflation in meals articles eased to eight.06 per cent, from 8.19 per cent in February. Vegetable inflation was 19.88 per cent, in opposition to 26.93 per cent in February.
“The excessive charge of inflation in March, 2022 is primarily because of rise in costs of crude petroleum and pure gasoline, mineral oils, fundamental metals, and many others owing to disruption within the world provide chain brought on by the Russia-Ukraine battle.” the Commerce and Business Ministry mentioned in an announcement.
Inflation in manufactured gadgets was 10.71 per cent in March, in opposition to 9.84 per cent in February.
Within the gas and energy basket, the speed of worth rise was 34.52 per cent throughout the month.
Inflation in crude petroleum spiked to 83.56 per cent in March, from 55.17 per cent throughout February.
Retail inflation spiked to six.95 per cent in March — the third consecutive month that the buyer worth index has breached the RBI’s tolerance restrict of 6 per cent, information launched final week confirmed.
The Reserve Financial institution earlier this month saved its key repo charge — at which it lends short-term cash to banks — unchanged for the eleventh time in a row at 4 per cent, to help development.

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