WPI-based inflation zooms to 14.55% in March on rising fuel, food prices

India’s March wholesale price index-based inflation rose to 14.55 per cent on rising edible oil prices and increase in power prices.

WPI inflation last month was 13.11 per cent on hardening of prices of crude oil and non-food items, whereas crude petroleum spiked to 55.17 per cent.

According to the data released by the industry department, the high rate of inflation in March 2022 was primarily due to rise in prices of crude petroleum and natural gas, mineral oils, basic metals, owing to disruption in global supply chain caused by Russia-Ukraine conflict.

The WPI Food Index increased from 8.47 per cent in February to 8.71 per cent in March. For manufactured products, the inflation rose to 10.71 per cent.

In egg, meat and fish, inflation was 9.42 per cent, while in onion, it was (-) 9.33 per cent. Inflation in potatoes saw a spike at 24.62 per cent in March, against 14.78 per cent in February.