India’s annual rate of inflation based on wholesale prices sequentially rose to 7.39 per cent in March from a rise of 4.17 per cent in February.
Similarly, the inflation rate last month was higher on a year-on-year basis.
“The annual rate of inflation stood at 7.39 per cent (provisional) for the month of March, 2021 over March, 2020. However, the month-on-month (March 2021 over February 2021) rate of inflation stood at 1.57 per cent,” the Ministry of Commerce and Industry said in a statement on WPI.
“The prices of crude oil, petroleum products and basic metal substantially increased in March 2021 as compared to the corresponding month of last year.”
Besides, the ministry said that due to a nationwide lockdown, the WPI index for the month of March 2020 (120.4) was computed with relatively low response rate.
On segment basis, prices of primary articles, which constitute 22.62 per cent of the WPI’s total weightage, inflated by 6.40 per cent last month from 1.82 per cent in February 2021 Besides, WPI food index rose to 5.28 per cent from 3.31 per cent reported for February.
The prices of manufactured items remained at elevated levels with a rise of 7.34 per cent from 5.81 per cent reported for February.
On the same note, the prices of fuel and power with a weightage of 13.15 per cent rose 10.25 per cent from 0.58 per cent.
The index for this major group increased by (5.28 per cent ) to 109.7 (provisional) in March, 2021 from 104.2 (provisional) for the month of February, 2021.”
“Prices of ‘Mineral Oils’ (9.76 per cent) increased in March, 2021 as compared to February, 2021. Prices of Coal (-) (0.08 per cent) declined in March, 2021 as compared to February, 2021. Prices of electricity remain unchanged.”