India: Inflation ticks up, while wholesale price inflation eases in March
April 21, 2017
In March, consumer prices in India rose 0.15% from the previous month, which followed February’s 0.23% rise. Prices rose moderately for food and beverages, while a shaper increase was seen in prices for fuel and light. Inflation rose slightly in March, rising from 3.7% to 3.8%—a 5-month high. Inflation lies just below the Central Bank’s medium term target of 4.0% plus/minus 2.0 percentage points.
The wholesale price index (WPI) in March declined 0.01% from the previous month, which contrasted February’s 0.22% rise. Prices fell across the board, including for manufactured products. Wholesale price inflation fell from February’s 6.6% to 5.7% in March. February’s result had marked the highest rate since May 2013. The trend pointed upward and annual average wholesale inflation rose to 3.7% from 3.2% in February.