Wholesale Price Index Spikes 7.39% On Year, Food Price Inflation Above 5%

Wholesale Price Index (WPI) data showed today that the annual rate of inflation stood at 7.39% (provisional) for the month of March, 2021 over March, 2020. However, month-on-month (March 2021 over February 2021) rate of inflation stood at 1.57 %. The prices of crude oil, petroleum products and basic metal substantially increased in March 2021 as compared to the corresponding month of last year. Also, due to nationwide lockdown, the WPI index for the month of March 2020 (120.4) was computed with relatively low response rate.

The index for Primary Articles group increased by (0.55%) to 146.2 (provisional) in March, 2021 from 145.4 (provisional) for the month of February, 2021. The index for this Fuel and Power group increased by (5.28%) to 109.7 (provisional) in March, 2021 from 104.2 (provisional) for the month of February, 2021. The index for this Manufactured Products group increased by (1.27%) to 127.3 (provisional) in March, 2021 from 125.7 (provisional) for the month of February, 2021.

The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group have increased from 153.0 in February, 2021 to 153.4 in March, 2021. The rate of inflation based on WPI Food Index increased from 3.31% in February, 2021 to 5.28% in March, 2021.

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