India’s March WPI Inflation Accelerates to 14.55%

India’s Wholesale Price Index inflation reached 14.55 percent in March as prices of oil and gas products increased.

The inflation rate for all commodities increased by 3.25 percent from 13.11 percent inflation in February. The inflation for fuel and power reached 34.52 in March compared to 31.50 percent in the last month, while manufactured products inflation increased to 10.71 percent from 9.84 percent.

The Ministry of Commerce and Industry said in a press release that the Russian-Ukraine conflict disrupted the global supply chain. As a result, the prices of crude petroleum and natural gas, mineral oils, basic metals, and other similar products increased and affected the inflation rate in March.

The increase in prices of basic metals, food products, chemical and chemical products, and textiles affected the inflation of manufactured products, but some price decreases were seen in the manufacture of some transport equipment, pharmaceuticals, medicinal chemicals, and botanical products, and beverages. The manufacture of wearing apparel remained unchanged in March.

The ministry also reported a food index hike from 8.47 percent in February to 8.71 percent in March.

The WPI captures the price movements of wholesale products. India’s Ministry of Commerce and Industry announced it will release the country’s WPI for April on May 17.

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