In March, wholesale inflation rises to a three-month high of 0.53%

Due to increases in the price of vegetables, potatoes, onions, and crude oil, wholesale inflation in the nation increased slightly to a three-month high of 0.53 percent in March from 0.20 percent the previous month. From April to October, the Wholesale Price Index (WPI)-based inflation rate was negative; however, by November, it had become positive, at 0.26 percent. In March 2023, the rate of inflation was 1.41 percent.

The commerce and industry ministry released a statement on Monday stating, “The annual rate of inflation based on the all-India Wholesale Price Index (WPI) number is 0.53 percent (provisional) for the month of March, 2024 (over March, 2023).”

According to figures, food inflation increased slightly in March, from 5.42 percent in the same month last year to 6.88 percent. Vegetable inflation increased to 19.52 percent this month from (-2.39) percent in the same month last year.

WPI increased by 52.96 percent for potatoes compared to a deflation of 25.59 percent, and by 56.99 percent for onions compared to (-) 36.83 percent in March 2023. Additionally, food inflation skyrocketed, reaching a three-month high of 4.6% in March 2024.