Deflating food prices softens India's WPI inflation

Share
Deflating food prices softens India's WPI inflation

ANZ Bank New Zealand economists said the fees-free first-year tertiary education policy broadly offset any inflationary pressure coming from the usual annual increase in tobacco excise duty, with a 4 per cent fall in the education group instead of its typical first quarter rise.

The Wholesale Price-Indexed (WPI) inflation of the country slipped marginally to 2.47 per cent in March from 2.48 per cent reported for the previous month because of falling prices of food items, especially vegetables and pulses.

On a sequential basis, expenses on primary articles, which constitute 22.62 per cent of the WPI's total weightage, inched up by 0.24 per cent, from an increase of 0.79 per cent in February.

On the basis of Wholesale Price Index (WPI), inflation was 2.48 per cent in February and 5.11 per cent in March past year. However, the price of ragi (3%), jowar and fish-marine (2% each) and peas/chawali, moong, betel leaves, wheat, paddy and pork (1% each) moved up.

The data disclosed that prices of food articles dipped by (-) 0.29 per cent from an acceleration of 0.88 per cent in the previous corresponding month. Similarly, the index for "Non-Food Articles" group declined by 0.3 percent to 120.2 due to lower price of guar seed, floriculture, raw cotton, cottonseed, mustard seed, among others. However, the price of raw silk (7%), mesta and hides (raw) (5% each), sunflower (4%), soyabean (3%), fodder (2%) and raw wool, coir fibre and raw rubber (1% each) moved up. It revised downwards forecast for retail inflation to 4.7-5.1 per cent for April-September and 4.4 per cent for October-March.

On a year-on-year (YoY) basis, onion prices soared higher by 42.22 per cent whereas potato prices rose by 43.25 per cent.

INFLATION is expected to have held steady in March as a drop in food and fuel prices was offset by higher airfares around the earlier Easter holidays. However, the March 2018 inflation is higher than 3.89 per cent recorded in the same month past year.

Share

Advertisement

Related Posts

U.S. troops not leaving Syria until goals accomplished: Haley
French President Emmanuel Macron spoke with Russian President Vladimir Putin on Friday, hours before the Western missile strikes. The United States, the UK and France said the strikes were a response to an alleged chemical weapons attack in Syria's Douma.

Tax season wraps up, IRS scams increase
H&R Block senior tax analyst Crystal Hartman said 1 out of 3 tax returns are prepared in the last week of filing season. So even if you owe more than you can pay right now, file your return and contact the IRS to set up a payment plan.

IMD predicts normal monsoon, forecasts 97 per cent rainfall
Forecast suggests maximum probability for normal rainfall and a low probability for deficient rainfall during the season. Normal rains in last two years helped a rebound in farm growth rate to 6.8% in 2016-17 and an estimated 3% in 2017-18.

Searchers Find Woman's Body in Eel River
In the latest case, the Thottapilly family had taken a road trip from their home in Santa Clarita, Calif., to OR for spring break. A specialized team of accident investigators is trying to figure that out with help from the FBI, Carpenter said.

Woolworths supermarkets hit by IT outage
Supermarket giant Woolworths has suffered an IT outage this afternoon which affected registers at its stores nationwide. Woolworths stores across the country have had to shut down registers and are unable to make sales.

Manchester City Clinch 3rd EPL Title in 7 Years
Ronaldo puts the hosts ahead 20 minutes in, before De Bruyne lobs Edwin van der Sar from forty yards before half-time. Now on 87, they need just nine more points to break Chelsea's Premier League record set during the 2004-05 campaign.

Nokia X set to make a comeback on April 27
Now, it has come to light that HMD Global Oy, the sole licensee of Nokia brand is bringing the nostalgia-inducing Nokia X back. So you can expect stock Android Oreo with a guarantee of timely security updates for at least two years.

Cold Front Brings Rain & Wind for Today
Thankfully the heavy rain has exited but now an upper level trough is bringing clouds, windy conditions, and falling temperatures. I'm still expecting lots of low clouds in the morning but these clouds should finally give way to sunshine in the afternoon.

Pro-Assad official: Targeted bases were evacuated on Russian warning
Russian Federation has countered that the US-led action was aimed at overthrowing Assad and keeping Moscow's influence in check. Western powers are thought to be preparing for strikes but Russian Federation, a Syrian ally, opposes such action.

Sony Xperia XZ2 Premium vs Xperia XZ2: What's the difference?
While it sports the same design as the Xperia XZ2 , the smartphone brings upgrades in the display , camera and battery . The company has not talked about pricing but confirmed that the phone will be available globally from Summer 2018.

© 2015 ExpressNewsline. All Rights reserved.