India's WPI inflation for apparel drops 0.9% in March

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You've probably noticed that your wallet has been a lot happier of late. In the same month past year, the WPI inflation was 5.11 per cent.

With this, 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.

India's wholesale price inflation eased for the fourth straight month in March, though fractionally, data from Ministry of Commerce & Industry showed Monday. 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.

In contrast, the overall vegetable prices in March deflated (-) 2.70 per cent, against a fall of (-) 0.50 per cent in the same month a year ago.

On the basis of the Wholesale Price Index (WPI), inflation was 2.48 percent in February and 5.11 percent in March past year. The index for "Manufacture of Wearing Apparel" sub-group declined by 0.9 per cent to 137.8 from 139.0 for the previous month due to lower price of woven apparel, except fur apparel, and knitted and crocheted apparel (1 per cent each).


The index for "Crude Petroleum & Natural Gas" group declined by 0.5 percent to 80.2 from 80.6 for the previous month due to lower price of crude petroleum. However, the price of raw silk, mesta and hides, sunflower, soyabean, fodder, raw wool, coir fibre and raw rubber all moved up. This index rose by 0.4% to 115.7 (provisional) from 115.2 (provisional) for the previous month. However, the price of petroleum coke and kerosene moved up.

Inflation in onion continued to stay high at 42.22 per cent and in potato at 43.25 per cent.

The inflation data for January was revised upwards to 3.02 per cent from the provisional estimate of 2.84 per cent.

Data released on April 12 showed that consumer price inflation eased to 4.28 percent in March from 4.44 percent in February. 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.

To remind you, in its first monetary policy review for the fiscal, the Reserve Bank earlier this month maintained status-quo on interest rate citing inflationary concerns.

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