India's wholesale inflation softens to 2.47 percent

A vendor arranges vegetable at his stall in a market in Mumbai

Germany's wholesale prices increased at a steady pace in March, Destatis reported Monday.

Bulgaria's annual consumer price index (CPI) recorded 2.2 per cent inflation in March, up 0.2 percentage points compared to a month earlier, despite 0.3 per cent deflation on a monthly basis, according to data released by the National Statistical Institute (NSI) on April 16. Manufactured products inflation came at 3.03% in March.

Index for "Crude Petroleum & Natural Gas" group declined by 0.5 percent to 80.2 (provisional) from 80.6 (provisional) for the previous month due to lower price of crude petroleum (1%).

"The annual rate of inflation, based on monthly WPI, stood at 2.47 percent (provisional) for March 2018 (over March 2017) as compared to 2.48 percent (provisional) for the previous month and 5.11 percent during the corresponding month of the previous year", the ministry said in its report.

It revised downwards its forecast for retail inflation, to 4.7-5.1 percent for the April-September period and 4.4 percent for the October-March period.

"The official Wholesale Price Index (WPI) for "All Commodities" for the month of March, 2018 rose by 0.2 per cent to 116.0 (provisional) from 115.8 (provisional) for the previous month", said the notification.

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"At present, we expect the average WPI inflation to rise to around 3.9 per cent in 2018-19 from 2.9 per cent in 2017-18", Nayar said.

Index for "Minerals" group declined by 2.0 percent to 119.7 (provisional) from 122.2 (provisional) for the previous month due to lower price of copper concentrate (14%) and phosphorite (1%).

Retail inflation, as per data released last week, slipped to a five-month low of 4.28 percent in March on account of a decline in food prices.

However, he said that core inflation dropped to 3.5 per cent in March 2018 from 3.9 per cent in February 2018.

"Unlike the retail inflation which dipped by 16bps in March 2018 over the previous month, the wholesale inflation remained flat".

The ease in inflation was attributed to falling prices of food items, particularly vegetables and pulses. Find us on Facebook too!

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