Wholesale Inflation Rises to 3.88% in March; Oil and Metals Become Costlier, Sharp Surge in Jewellery Prices

The Wholesale Price Index (WPI)-based inflation rate rose to 3.88 percent in March, up from 2.13 percent in February,the Ministry of Commerce and Industry said on Wednesday.

The rise in wholesale inflation in March was primarily driven by an increase in prices of crude petroleum and natural gas, non-food articles, manufacture of basic metals, food articles, and others.

According to the data, fuel and power prices increased by 4.13 percent in March compared to February. Mineral oil prices rose by 8.77 percent during the month. However, electricity prices saw a decline of 5.07 percent in March.

The Ministry stated that out of 22 manufacturing groups, prices increased in 16 groups in March, while a decline was recorded in 6 groups. Meanwhile, wholesale food inflation stood at 1.85 percent in March, the same level as in February.

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