India's WPI-based inflation at -0.85% in March

India's annual rate of inflation, based on monthly wholesale price index (WPI), stood at minus 0.85 per cent for March 2016 (over March 2015), according to the provisional data released by the Office of the Economic Adviser, Ministry of Commerce and Industry.

In comparison, annual rate of inflation was minus 0.91 per cent for February 2016 and minus 2.33 per cent during March 2015. Build up inflation rate in the financial year 2015-16 was minus 0.85 per cent compared to a build up rate of minus 2.33 per cent in the corresponding period of the previous year.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of March, 2016 rose by 0.3 per cent to 174.6 from 174.0 for the previous month.

The index for manufactured products (weight 64.97 per cent) for March, 2016 rose by 0.4 per cent to 153.7 from 153.1 for the previous month. The index for textiles sub-group rose by 0.1 per cent to 139.8 from 139.6 for the previous month due to higher price of jute yarn (6 per cent), jute sacking bag (3 per cent), jute sacking cloth (2 per cent), and man-made fabric (1 per cent). However, the price of tyre cord fabric declined by 2 per cent.

The index for primary articles (weight 20.12 per cent) declined by 0.2 per cent to 244.1 from 244.7 for the previous month. On the other hand, the index for fuel and power (weight 14.91 per cent) rose by 1.7 per cent to 172.4 from 169.6 for the previous month due to higher prices of aviation turbine fuel, high speed diesel, furnace oil, kerosene and bitumen. However, the price of electricity, petrol and LPG declined.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 4.83 (provisional) in March, 2016 compared to 5.26 in February, 2016 and 5.25 in March, 2015, according to the Central Statistics Office, Ministry of Statistics and Programme Implementation. (RKS)