India Inflation March 2017


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.

FocusEconomics Consensus Forecast panelists expect consumer price inflation to average 4.9% in FY 2017, which is up 0.1 percentage points from last month’s forecast. In FY 2017, the panel expects consumer price inflation to average 5.0%.

Author: Angela Bouzanis, Lead Economist

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India Inflation Chart

India Inflation March 2017 0

Note: Annual and monthly variation of wholesale price index (WPI) and annual variation of consumer price index (CPI) in %.
Source: Ministry of Commerce and Industry and FocusEconomics calculations.

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