New Delhi: India’s wholesale price index (WPI) rose over an 8-year high of 7.39 percent in March 2021, data released by the Union Ministry of Commerce & Industry showed on Thursday.
The WPI grew 4.17 percent during February, while for January it was revised to 2.51 percent from 2.03 percent, the data showed. The WPI in March 2020 was at 0.42 percent.
“The prices of crude oil, petroleum products, and basic metal substantially increased in March 2021 as compared to the corresponding month of last year. Also, due to nationwide lockdown, the WPI index for the month of March 2020 (120.4) was computed with a relatively low response rate,” the ministry statement said.
Such a high level of WPI was last recorded in October 2012, when inflation was 7.4 percent, media reported.
The food articles segment witnessed a 3.24 percent rise in March, vis-à-vis February when it was 1.36 percent.
Vegetable prices contracted (-) 5.19 percent in March, against (-) 2.90 percent in February. Pulses’ prices grew 13.14 percent last month, while that of fruits rose 16.33 percent.
The fuel and power segment rose a sharp 10.25 percent in March with LPG prices jumping by 10.30 percent and petrol gaining by 18.48 percent.
According to another data released by the government on Monday, the retail inflation or consumer price index (CPI) rose 5.52 percent in March 2021.
(VP)