Wholesale inflation jumps to over 8-year high to 7.4% in March

Inflation has increased due to price rise in crude oil and metal.

wholesale inflation rise over 8 years high of 7.4% in March, its 3% more than February.

On Monday, the National Statistics Office (NSO) released figures for the Consumer Price Index (CPI) in which the retail inflation rate jumped to a four-month high of 5.52 percent.

According to a release issued by the Commerce & Industry Ministry, wholesale inflation based on Wholesale Price Index (WPI) registered surge mainly on account of higher fuel and metal prices. Also, the low base of March last year, when the data was computed with a low response rate due to the nationwide lockdown, contributed to a spike in inflation in March 2021. 

Inflation in food articles in March was 3.24 per cent as prices of pulses, fruits and paddy hardened. In vegetables, the rate of price rise was (-) 5.19 per cent, compared to (-) 2.90 per cent in the previous month. Inflation in pulses was 13.14 per cent in March, while in fruits it was 16.33 per cent. 

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