India's WPI Inflation On A Rise- Check Details

In March, inflation in the primary articles segment witnessed a slight uptick, rising to 4.51 per cent from 4.49 per cent in February. This increase indicates growing inflationary pressures in key sectors.
Whole sale Price Inflation, Inflation, RBI, Retail, Food

India's WPI Inflation On A Raise- Check Details (image source: Canva)

Inflation: India's wholesale price index-based inflation surged to 0.53 per cent in March, which is an increase from 0.20 per cent in February, according to data released by the Commerce Ministry. Food inflation also saw a rise, standing at 4.65 per cent compared to 4.09 per cent in the previous month.

Primary Articles Segment

In March, inflation in the primary articles segment witnessed a slight uptick, rising to 4.51 per cent from 4.49 percent in February. This increase indicates growing inflationary pressures in key sectors.

Retail Inflation Data

Last week, India's retail inflation data revealed a slight easing, with inflation declining to 4.85 per cent on an annual basis in March, down from 5.09 per cent in February. While the retail inflation data offers a broader picture of consumer price movements, wholesale inflation serves as an important indicator for producers and manufacturers.

RBI's Inflation Forecast

During its April Monetary Policy Committee (MPC) meeting, the Reserve Bank of India (RBI) maintained its inflation forecast for the fiscal year at 4.5 per cent. Governor Das expressed optimism, suggesting that inflation may be approaching the desired threshold of 4 per cent. However, he highlighted the challenges posed by rising crude oil prices and supply chain disruptions due to the Red Sea crisis.
Governor Das characterized inflation as "the elephant in the room," indicating its significance as a major economic challenge. He metaphorically stated that the elephant (inflation) appears to be returning to the forest (desirable threshold of 4 per cent), signifying a positive trend. Despite favourable base effects, Das acknowledged the persistent pressure from service prices, which have kept inflation levels elevated compared to the targeted levels.
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