WPI inflation at (-)0.85% in March, stays negative for 17th month

NEW DELHI: India’s wholesale prices fell for the 17th straight month in March, with the Wholesale Price Index ( WPI)-based inflation declining 0.85% from a year ago on the back of falling prices of manufactured products, government data released on Monday showed.

In February, the index was down 0.91%, while in March 2015 it had fallen 2.33%. The WPI figure for January has been revised to -1.07% from -0.90%.

In March, prices of food articles rose by 3.73% year-on-year, as pulses became dearer by 34.45%. For onions, however, the rate of inflation dropped significantly, with prices going down by 17.65%. Vegetables and fruits were also cheaper.

The easing of food inflation, along with a 26.6% fall in mineral prices, helped rein in primary articles’ inflation to 2.13%.

As per the data released by the commerce and industry ministry, inflation in primary articles was 2.13% compared with 1.58% in February, while manufacturing products’ inflation was -0.13 % compared with -0.58% a month ago

Last week, Consumer Price Index (CPI) inflation for March declined to 4.83% versus 5.18% in February.