: Wholesale inflation rises to 14.55% in March from 13.11% in February #IndiaNEWS India’s wholesale inflation rate rose to 14.55% in March from 13.11% in February, government data showed on Monday.

Wholesale inflation rises to 14.55% in March from 13.11% in February #IndiaNEWS
India’s wholesale inflation rate rose to 14.55% in March from 13.11% in February, government data showed on Monday. The indicator of price rise in wholesale markets has remained in double digits since April last year. “The high rate of inflation in March, 2022 is primarily due to rise in prices of crude petroleum and natural gas, mineral oils, basic metals, etc owing to disruption in global supply chain caused by Russia-Ukraine conflict,�? the Union Ministry of Commerce and Industry said in a statement on Monday.Wholesale inflation in crude petroleum and natural gas climbed to 69.20% in March from 46.14% a month ago. In the mineral segment, wholesale inflation jumped from 11.12% in February to 19.46% in March. Basic metals saw a increase in wholesale inflation to 25.97% from 19.82% a month ago.The wholesale food prices, however, dropped to 8.06% from 8.19% in February. Inflation in manufactured items was 10.71% in March against 9.84% in February.Separate data released by the government on April 12 had shown that India’s retail inflation has risen to a 17-month high of 6.95% in March. The previous high was recorded at 7.61% in October 2020.It was above the Reserve Bank of India’s upper tolerance band for a third straight month. The central bank aims to keep...Read more

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