WPI inflation rises to 14.55% on-year in March

Wholesale price inflation (WPI) went up by 144 basis points (bps) in March, according to the Ministry of Commerce and Industry release dated April 18. The release read, "The annual rate of inflation is 14.55 per cent for the month of March 2022 as compared to 7.89 per cent in March 2021."

The Ministry attributed high inflation rates in March to the rise in crude petroleum and natural gas prices and a hike in prices of mineral oils, basic metals, etc. due to the supply chain disruptions caused by the ongoing Russia-Ukraine war.

Food inflation went up from 8.47 per cent in February 2022 to 8.71 per cent in March 2022, as per the data.

This list by the Commerce Ministry includes food items like cereals, paddy, wheat, pulses, vegetables, potatoes, onions, fruits, milk, eggs, meat and fish.

Oil seeds inflation settled at 22.49 per cent compared to 22.88 per cent in February, the highest since November 2021.

Fuel and power inflation reached 34.52 per cent in March compared to 31.5 per cent in February due to a 9.19 per cent increase in mineral fuel prices, as per the ministry data.

Manufacturing products inflation went up from 9.84 per cent in February to 10.71 per cent in March. Products included are vegetable and animal oils and fats, beverages, tobacco products, textiles, wearing apparel, leather and related products among others.