WPI inflation down at 1% in March on lower food prices

The annual rate of inflation based on monthly wholesale price index (WPI) stood at 1 per cent in March over the same month last year, data released by the government on Wednesday showed.

The official WPI for all commodities (base 2011-12=100) for March 2020 declined by 0.9 per cent to 121.1 from 122.2 for the previous month, said a statement issued by the Ministry of Commerce and Industry.

"The annual rate of inflation based on monthly WPI stood at 1 per cent for March 2020 (over March 2019) as compared to 2.26 per cent for the previous month and 3.1 per cent during the corresponding month of the previous year," it said.

Build up inflation rate in the financial year so far was 1 per cent compared to a build-up rate of 3.1 per cent in the corresponding period of the previous year.

"The rate of inflation based on WPI Food Index consisting of food articles from primary articles group and food product from manufactured products group decreased from 7.31 per cent in February 2020 to 5.49 per cent in March 2020," said the statement.

The index for food articles group declined by 2.1 per cent to 151.6 from 154.9 for the previous month due to lower price of egg (17 per cent), poultry chicken (9 per cent), tea (7 per cent), fish-marine, maize and fruits & vegetables (5 per cent each), jowar (4 per cent), bajra and wheat (3 per cent each), gram, paddy, betel leaves and urad (2 per cent each) and fish-inland, arhar, pork, masur and mutton (1 per cent each).

However, the price of beef and buffalo meat moved up (8 per cent), moong and peas/chawali (4 per cent each) and ragi and milk (1 per cent each).

The index for fuel and power group declined by 3.1 per cent to 100.7 from 103.9 for the previous month. But the index for manufactured products with a weightage of over 64 per cent remained unchanged.

-ANI

Also Read: WHO launches interactive COVID-19 service on Facebook Messenger