Wholesale Price Inflation Rises 0.53% In March 2024

The Wholesale Price Index (WPI) in March 2024 saw a slight increase in wholesale prices, with annual inflation reaching 0.53 per cent, mainly driven by higher prices in key sectors such as food, electricity, crude oil, machinery, and manufacturing.

Furthermore, breaking down the numbers, the WPI for all commodities rose from 151.2 to 151.8 when compared to the previous year. In primary article like food, the index rose from 178.3 to 180.1, with an inflation rate of 4.65 per cent. However, the fuel power sector saw a decrease in prices, slightly dropping from 155.1 to 155.2.

On month-on-month basis, there was a 0.40 per cent increase in the WPI index compared to February 2024. Primary articles including crude oil and natural gas saw a 0.94 surge whereas the fuel and power sector saw a modest 0.06 per ce0nt increase. On the other hand, manufactured products saw a 0.21 per cent rise, primarily by higher prices in food products, motor vehicles, and chemicals.

The food index, which includes both food articles and food products, rose from 178.3 to 180.1, contributing to a 4.65 per cent inflation rate in March. This was primarily due to higher prices in food articles.