IANS | 15 Apr, 2024
India's inflation rate based on the Wholesale Price Index (WPI) edged
up to 0.53 per cent in March, official figures released by the Commerce
and Industry Ministry on Monday showed.
The positive rate of
inflation in March is primarily due to an increase in prices of food
articles, electricity, crude petroleum and natural gas, machinery &
equipment and other manufacturing goods, the ministry said.
The WPI inflation in February had come down to 0.2 per cent in February from 0.33 per cent in January this year.
Food inflation stood at 4.65 per cent for March as against 4.09 per cent in February.
The
core inflation rate, which excludes fuel and food items, stood at -1.2
per cent in March in comparison to February’s figure of -1.3 per cent.
Data
released last week showed India’s consumer price inflation eased to a
five-month low of 4.85 per cent in March bringing relief to household
budgets.
Retail Inflation has come down closer to the RBI’s
mid-term target of 4 per cent after which the central bank would be in a
position to cut key interest rates to spur economic growth.
The country’s CPI inflation had stood at 5.09 per cent in February and 5.1 per cent in January.
