Zee Media Bureau
New Delhi: India's wholesale prices dipped steadily in March. The trend, obvious over the last 17 months, is marginal.
The annual rate of inflation, based on monthly WPI, stood at -0.85% (provisional) for the month of March, 2016 (over March, 2015) as compared to -0.91% (provisional) for the previous month and -2.33% during the corresponding month of the previous year.
Build up inflation rate in the financial year so far was -0.85% compared to a build up rate of -2.33% in the corresponding period of the previous year.
The index for ‘Food Articles’ group declined by 0.2 percent to 258.6 (provisional) from 259.1 (provisional) for the previous month.
The index for ‘Non-Food Articles’ group rose by 0.5 percent to 219.0 (provisional) from 217.9 (provisional) for the previous month .
The index for ‘Minerals’ group declined by 2.5 percent to 178.5 (provisional) from 183.0 (provisional) for the previous month.
The index for Fuel and Power group rose by 1.7 percent to 172.4 (provisional) from 169.6 (provisional) for the previous month due to higher price of aviation turbine fuel (14%), high speed diesel (6%), furnace oil (5%) and kerosene and bitumen (1% each). However, the price of electricity and petrol (3% each) and LPG (1%) declined.
The index for Manufactured Products rose by 0.4 percent to 153.7 (provisional) from 153.1 (provisional) for the previous month.
For the month of January, 2016, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 175.4 as compared to 175.7 (provisional) and annual rate of inflation based on final index stood at -1.07 percent as compared to -0.90 percent (provisional) respectively as reported on 15.02.2016.