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WPI rises over higher oil, food prices

IANS  |  New Delhi 

India's based on the -- which tracks the price of goods sold in bulk -- rose for a second consecutive month owing to a rise in fuel prices.

In line with expectation, as the rise in fuel prices reflect in the commodity prices, the (WPI) rose to 3.18 per cent in March from 2.93 per cent in February.

Fuel prices grew by 5.4 per cent as against 2.2 per cent in February 2019, said "The WPI is expected to approach 4 per cent levels, going ahead on account of and manufacturing "

The research note also added that the food shall continue to move northward, going ahead on the back of likely El Nino, which might prove to be a caution for the RBI's monetary policy framework.

spiked to 5.7 per cent as against 4.3 per cent on February 19 owing to higher vegetable prices.

However, the Reliance Security note expects to gradually soften, as concerns over global trade wars ease and a growth-oriented monetary policy continues to provide liquidity. eased to 2.2 per cent YoY as against 2.3 per cent.

Last week, the benchmark Brent crude hit a 5 month high. It is currently trading at $71 per barrel mark.

--IANS

ravi/sn/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 15 2019. 15:16 IST
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