WPI inflation falls to 2.47% in March on cheaper food prices

A vendor arranges vegetable at his stall in a market in Mumbai

A vendor arranges vegetable at his stall in a market in Mumbai

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.

"Moreover, while average petrol prices at the pumps dropped 1.4 per cent between February and March this year, that was only a touch bigger than the 0.8 per cent drop seen between the same months in 2017".

However, on a year-on-year (YoY) basis, the consumer price index (CPI) last month stood higher than the 3.89 percent reported in March 2017.

Manchester City win English Premier League champion
But United's loss to bottom-placed West Brom probably caught out the club and the players. "Now we have to try [to get better]". Can anyone stop City next season? "Eight titles are eight titles and three Premier Leagues are three Premier Leagues ".

On April 12, the data released by the Central Statistics Office (CSO) showed that lower food prices eased March retail inflation to 4.28 percent from 4.44 percent in February 2018.

As per the official government data released Monday, food articles showed deflation at 0.29 per cent in March as against a 0.88 per cent inflation in the preceding month. Similarly, the index for "Non-Food Articles" group declined by 0.3 percent to 120.2 due to lower price of guar seed, floriculture, raw cotton, cottonseed, mustard seed, among others.

Prices of the other major group under the WPI, manufactured products, which comprise almost 64.23 per cent of the index, recorded a 3.03 per cent rise. However, the price of petroleum coke and kerosene moved up. This is different from the consumer price index-based inflation, which reflects price changes in the retail market. It revised downwards forecast for retail inflation to 4.7-5.1 per cent for April-September and 4.4 per cent for October-March.

Shire to sell oncology business to Servier for $2.4bn
The UK Takeover Panel gave the Japanese firm a deadline of April 25 to announce a firm intention to bid or walk away. The proceeds from the transaction, which is expected to close in this or next quarter, would "increase optionality".

For 2018, the economists decreased the median inflation estimate for the eleventh consecutive week, to 3.48%, from 3.53% in the previous survey. The movement in core inflation at the retail and wholesale level were in the opposite direction in March 2018.

Inflation based on wholesale prices slipped marginally to 2.47 per cent in March on falling prices of food items, especially vegetables and pulses. "Inflation in the food article category which has been declining since November 2017 turned into deflation in March 2018 mainly driven by the sharp correction in the prices of fruits and vegetable". Find us on Facebook too!

Beyonce's wardrobe malfunction and reunion with Destiny Child at Coachella 2018
Beyonce headlining at Coachella 2018 gave an incredible performance and surprised the audience by reuniting with Destiny Child. The superstar was due to perform past year but had to postpone because she was pregnant with her twins, Sir and Rumi.

Latest News