India’s wholesale inflation in March rose to the highest in eight years, data released by the Ministry of Commerce & Industry on Thursday showed. Inflation, measured by wholesale price index, rose to 7.39% in March from 4.17% in February. The WPI in March 2020 was at 0.42%.
Such a high level of WPI was last recorded in October 2012, when inflation was 7.4%, according to PTI.
“The prices of crude oil, petroleum products and basic metal substantially increased in March 2021 as compared to the corresponding month of last year,” read the ministry’s statement.
The food articles segment recorded a 3.24% rise in March. In the month prior to that, this was 1.36%. Vegetable prices contracted 5.19% in March, against 2.90% in February. Prices of pulses grew 13.14% in March while that of fruits rose 16.33%.
The fuel and power segment witnessed a sharp rise of 10.25% in March. Prices of manufactured products, which have 64% weightage in the WPI index, grew 7.34%.