India's Wholesale Price Inflation Slows Marginally In March

Wholesale Inflation stands at 2.47% in March; manufacturing index rises

"After the surge seen in the previous month, the core-WPI inflation eased to a three-month low of 3.6 percent in March from 3.9 percent in February, reflecting a favourable base effect as well as the trend in a number of sub-sectors with a substantial weight such as textiles, basic metals, fabricated metal products, and motor vehicles, trailers and semi-trailers etc", Aditi Nayar, Principal Economist at ICRA said.

"The official Wholesale Price Index (WPI) for "All Commodities" for the month of March, 2018 rose by 0.2 per cent to 116.0 (provisional) from 115.8 (provisional) for the previous month", said the notification.

Bulgaria's annual consumer price index (CPI) recorded 2.2 per cent inflation in March, up 0.2 percentage points compared to a month earlier, despite 0.3 per cent deflation on a monthly basis, according to data released by the National Statistical Institute (NSI) on April 16. Under this, index for "Food Articles" group declined by 0.4 percent to 137.2 (provisional) from 137.8 (provisional) for the previous month due to lower price of egg (5%), gram, tea, coffee, poultry chicken and condiments & spices (3% each), rajma (2%) and fish-inland, masur, bajra, fruits & vegetables and beef and buffalo meat (1% each).

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

Prices of non-food articles fell (-) 1.39 percent in March, compared with 3.83 percent a year ago and (-) 2.66 percent in February. This is different from the consumer price index-based inflation, which reflects price changes in the retail market.

IMD predicts normal monsoon, forecasts 97 per cent rainfall
According to the weatherman, below 90 per cent rainfall is considered deficient and at 95 per cent it is considered below normal. India had faced deficient rains during monsoon season in 2015 and 2014, making both these years drought years.

Deflation in vegetables stood at 2.70 per cent, pulses at 20.58 per cent and wheat at 1.19 per cent last month.

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

It may be recalled that WPI had come in at 5.11 per cent in March past year.

Two of the nine Monetary Policy Committee (MPC) members already voted to hike rates to 0.75 per cent last month, marking the first split vote since last November when rates were raised from 0.25 per cent to 0.5 per cent.

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