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HomeBusinessInflation based on wholesale price rises to 14.55 percent in March 2022

Inflation based on wholesale price rises to 14.55 percent in March 2022

WPI InflationInflation has increased again in the month of March. In the month of March 2022, the Wholesale Price Index based inflation rate (WPI based Inflation) has been 14.55 percent. Whereas in February 2022, the inflation rate based on the Wholesale Price Index was 13.11 percent. This is the highest level of four months of wholesale inflation. In January 2022, the inflation rate was 12.96 percent. It is a matter of concern that the inflation rate has been in double figures continuously for the last one year. In March 2021, the wholesale based inflation was at 7.89 per cent.

There is a sharp rise in the food inflation rate in the month of March. During this, the food inflation rate has increased from 8.47 percent to 8.71 percent. There has been a tremendous jump in the wholesale based inflation rate of potatoes. The inflation rate of potato has increased from 14.78 percent to 24.62 percent. If we look at the inflation rate of fuel and power, from February 2022 from where it was 31.50 percent, which has increased to 34.52 percent. In the month of March, inflation in the basket of primary articles has increased from 13.39 percent to 15.54 percent. Due to Russia-Ukraine tensions, the crude, petroleum and natural gas basket has increased by 21.18 percent, the inflation rate of minerals by 9.72 percent, the prices of non-food articles by 2.94 percent.

Earlier, in the month of March, the retail inflation rate was 6.95 percent. This figure of retail inflation is the highest level in 18 months. Retail inflation has reached 6.95 percent, which is more than the upper limit of 6 percent fixed by RBI. According to the data of NSO, there has been a tremendous increase in inflation in urban areas.

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