WPI: Crude oil, expensive vegetables boost inflation, wholesale inflation marginally up in April – India TV Hindi

WPI- India TV Paisa

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WPI in March 2024: A slight increase in wholesale inflation has been observed in March. The reason for this is the increase in the prices of vegetables, potatoes, onions and crude oil in the country. Wholesale inflation rose marginally to 0.53 percent in March from 0.20 percent in February. Inflation based on the Wholesale Price Index (WPI) remained consistently below zero from April to October. It was 0.26 percent in November. In December 2022, it stood at 5.02 percent.

The annual inflation rate based on All India Wholesale Price Index (WPI) data stood at 0.53 percent (provisional) in March 2024, the Ministry of Commerce and Industry said in a statement on Monday. Potato inflation was 25.59 percent in March 2023 and 52.96 percent in March 2024. Onion inflation stood at 56.99 percent as against negative 36.83 percent in March 2023. According to the data, inflation in the crude petroleum sector increased by 10.26 percent in March this year due to the rise in global crude oil prices.

Brent crude is $90 per barrel.

Let us tell you that the price of crude oil increased due to the damage done to Russia’s oil facilities by Ukraine yesterday. Currently, Brent crude is hovering around $90 per barrel.

Reduction in cost of fertilizer

Retail inflation fell to a five-month low of 4.85 percent in March this year, mainly due to lower food prices. Inflation based on the retail or consumer price index (CPI) rose to 5.66 percent in March. It was 5.09 percent in February. According to data released by the National Statistics Office (NSO) last week, food inflation stood at 8.52 percent in March as against 8.66 percent in February.

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