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March WPI inflation hits eight-month low to 2.47%

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 0.07% in February 2018 to (-) 0.07% in March.
The annual rate of inflation, based on monthly WPI, stood at 2.47% (provisional) for the month of March 2018 (over March 2017) as compared to 2.48% (provisional) for the previous month and 5.11% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.47% compared to a build-up rate of 5.11% in the corresponding period of the previous year.

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 0.07% in February 2018 to (-) 0.07% in March 2018.

Primary Articles (Weight 22.62%)
The index for this major group declined by 0.5% to 127.4 (provisional) from 128 (provisional) for the previous month.

The index for ‘Minerals’ group declined by 2% to 119.7 (provisional) from 122.2 (provisional) for the previous month due to lower price of copper concentrate (14%) and phosphorite (1%). However, the price of iron ore (15%), chromite (13%), manganese ore (6%), limestone (5%) and zinc concentrate and lead concentrate (1% each) moved up.

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

Fuel & Power (Weight 13.15%)
The index for this major group declined by 0.1% to 98 (provisional) from 98.1 (provisional) for the previous month.

The index for ‘Mineral Oils’ group declined by 1.4% to 88.5 (provisional) from 89.8 (provisional) for the previous month due to lower price of LPG (6%), naphtha (3%) and HSD, bitumen, petrol and furnace oil (1% each). However, the price of petroleum coke (11%) and kerosene (2%) moved up

The index for ‘Electricity’ group rose by 2.9 percent to 105.4 (provisional) from 102.4 (provisional) for the previous month due to higher price of electricity (3%).

Manufactured Products (Weight 64.23%)
The index for this major group rose by 0.4% to 115.7 (provisional) from 115.2 (provisional) for the previous month.

The index for ‘Manufacture of Beverages’ group rose by 0.4% to 119.8 (provisional) from 119.3 (provisional) for the previous month due to higher price of beer (2%) and wine (1%). However, the price of rectified spirit (2%) and country liquor (1%) declined.