Inflation Rate Rises Marginally In March  - Vibes Of India

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Inflation Rate Rises Marginally In March 

| Updated: April 15, 2024 15:35

Food inflation moved up to 6.88%, crude prices rose by 10.26%

Wholesale inflation in the country rose marginally to 0.53% in March compared to 0.20% in the preceding month due to increase in prices of vegetables, potato, onion and crude oil.

The Wholesale Price Index (WPI)-based inflation was in the negative zone from April to October and had turned positive in November at 0.26%. The inflation in March 2023 was 1.41%.

“The annual rate of inflation based on the all-India Wholesale Price Index (WPI) number is 0.53% (provisional) for the month of March, 2024 (over March, 2023),” the commerce and industry ministry said in a statement on Monday.

Vegetable prices

Food inflation moved up marginally to 6.88% in March from 5.42% in the same month a year ago, data showed. Inflation in vegetables was 19.52%, up from (- 2.39%) in the same month a year ago.

WPI for potato witnessed a jump of 52.96%, while for onion the rise was 56.99% in March 2023. The data showed that inflation in the crude petroleum segment rose by 10.26% in March due to hardening of crude prices globally.

The Consumer Price Index (CPI) based retail inflation was 5.09% per cent in February and 5.66% in March 2023. Previously, CPI-based inflation was the lowest at 4.87 per cent in October 2023.

The inflation in the food basket was at 8.52% in March, down from 8.66% in February, according to the data released by the National Statistical Office (NSO) last week. 

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