India's WPI inflation rises to 0.53% in March 2024

15 Apr '24

2 min read

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In March, the annual wholesale price inflation in India was recorded at 0.53 per cent, a slight increase from 0.20 per cent in February, according to the Ministry of Commerce and Industry.
WPI rose month-over-month by 0.40 per cent from February 2024.
The rise in inflation is attributed to higher prices in sectors such as food, electricity, and machinery.

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 0.53 per cent (provisional) for the month of March 2024 (over March 2023), registering an increase over 0.20 per cent registered in the previous month, according to the ministry of commerce and industry.

The month-over-month change in WPI index for the month of March 2024 stood at 0.40 per cent as compared to February 2024.

“Positive rate of inflation in March 2024 is primarily due to increase in prices of food articles, electricity, crude petroleum and natural gas, machinery and equipment and other manufacturing etc,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of March 2024 increased to 151.8 from previous month’s 151.2.

The index for manufactured products (weight 64.23 per cent) for March 2024 rose to 140.1 from 139.8 in February 2024. The index for ‘Manufacture of Textiles’ sub-group decreased slightly to 134.5 in March from 134.6 in February, while the index for ‘Manufacture of Wearing Apparel’ decreased to 151.3 from 151.9 in February.

The index for primary articles (weight 22.62 per cent) increased to 183.1 in March 2024 from 181.4 in February 2024, while that for fuel and power (weight 13.15 per cent) decreased to 155.2 from 155.1 in February 2024.

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