India witnessed an uptick in wholesale price index (WPI)-based inflation, registering 0.53 percent in March on an annual basis, a climb from 0.20 percent in February, according to the Commerce Ministry. This marks the highest inflation rate observed in a span of three months.
Specifically, wholesale onion prices surged by 56.99 percent in March, following a 29.22 percent increase in February. Industry forecasts anticipate a significant shortfall in onion supplies until the subsequent kharif harvest, contrasting the current surplus and stable prices, further exacerbated by an export ban.
Additionally, WPI for potatoes soared by 52.96 percent in March, a sharp increase from 15.34 percent in February. Comparative data from the previous year indicates a contraction in wholesale prices for onions and potatoes by 36.83 percent and 25.59 percent, respectively. The month-over-month WPI change for March stood at 0.40 percent relative to February. Furthermore, wholesale food inflation escalated to 4.7 percent annually from 4.1 percent in February, with a month-on-month growth of 1.01 percent after a 0.11 percent rise in February.
Source: economictimes.indiatimes.com
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