Germany's Wholesale Price Inflation Steady At 1.2%

Germany's Wholesale Price Inflation Steady At 1.2%

Deflating food prices softened India's wholesale price-indexed (WPI) inflation to 2.47 per cent in March from 2.48 per cent reported for the previous month, official data showed on Monday.

The wholesale prices of food articles fell 0.29 per cent in March compared to a 0.88 per cent rise in the previous month.

Mr Brown highlighted BRC Shop Price Index data, which showed food prices dropping at their fastest rate in 18 months in March, which could have a larger impact on the inflation figure alongside fuel costs.

As per data released last week, retail inflation slipped to a five-month low of 4.28 per cent in March on account of decline in food prices. The index for "Manufacture of Wearing Apparel" sub-group declined by 0.9 per cent to 137.8 from 139.0 for the previous month due to lower price of woven apparel, except fur apparel, and knitted and crocheted apparel (1 per cent each).

Going ahead, the fuel & power which bags 13.15% of total WPI, declined by 0.1% to 98.0 (provisional) from 98.1 (provisional) for the previous month.

Inflation was at 2.48 per cent rise in February and 5.11 per cent in March previous year.

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Besides, January WPI inflation has been revised upwards to 3.02 per cent from the provisional estimate of 2.84 per cent.

Product-wise, the price of high-speed diesel rose by 6.12 per cent during March while that of petrol climbed by 2.55 per cent and for LPG by (-) 9.08 per cent.

"Unlike the retail inflation which dipped by 16bps in March 2018 over the previous month, the wholesale inflation remained flat".

However, he said that core inflation dropped to 3.5 per cent in March 2018 from 3.9 per cent in February 2018.

In contrast, the overall vegetable prices in March deflated (-) 2.70 percent, against a fall of (-) 0.50 percent in the same month a year ago.

In its first monetary policy review for the fiscal, the Reserve Bank of India (RBI), earlier this month maintained a status-quo on interest rates citing inflationary concerns. It revised downwards forecast for retail inflation to 4.7-5.1 per cent for April-September and 4.4 per cent for October-March.

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