Markets

India's wholesale inflation softens to 2.47 percent

India's wholesale inflation softens to 2.47 percent

As per CSO data, inflation in the vegetables segment cooled to 11.7 per cent in March from 17.57 per cent in the previous month.

The Wholesale Price Index (WPI) eased gradually to 2.47% in month of March 2018 compared to growth rate of 2.48% in February 2018 and 3.02% in January 2018.

On a year-on-year (YoY) basis, onion prices soared higher by 42.22 per cent whereas potato prices rose by 43.25 per cent.

ANZ Bank New Zealand economists said the fees-free first-year tertiary education policy broadly offset any inflationary pressure coming from the usual annual increase in tobacco excise duty, with a 4 per cent fall in the education group instead of its typical first quarter rise.

The sub-category of manufactured food products became dearer by 0.31 per cent.

On the other hand, the index for "Manufacture of Textiles" sub-group rose by 0.4 per cent to 114.1 from 113.7 for the previous month due to higher price of viscose yarn, knitted and crocheted fabrics, synthetic yarn and weaving and finishing of textiles (1 per cent each).




Retail inflation, as per data released last week, slipped to a five-month low of 4.28 percent in March on account of a decline in food prices. The price of petroleum coke (11 per cent) and kerosene (2 per cent) moved up.

According to industry body PHD Chamber, the consistent decline in WPI indicated "that the government has undertaken effective measures at the ground to address the supply side problems of the economy during the last few years".

The CSO data revealed that the consumer food price index (CFPI) stood at 2.81 percent in March compared to 3.26 percent in February 2018. The movement in core inflation at the retail and wholesale level were in the opposite direction in March 2018.

Germany's wholesale prices increased at a steady pace in March, Destatis reported Monday.

The ease in inflation was attributed to falling prices of food items, particularly vegetables and pulses.

Mr Brown highlighted BRC Shop Price Index data, which showed food prices dropping at their fastest rate in 18 months in March, which could have a larger impact on the inflation figure alongside fuel costs. Find us on Facebook too!


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