For Quick Alerts
For Daily Alerts

WPI inflation for March slides to 5.96 per cent

 WPI inflation for March slides to 5.96 per cent
In what has come as a pleasant surprise, the whole sale price inflation dropped sharply below the 6 per cent mark to 5.96 per cent as core inflation declined.

"The annual rate of inflation, based on monthly WPI, stood at 5.96 per cent (provisional) for the month of March, 2013 (over March, 2012) as compared to 6.84 per cent (provisional) for the previous month and 7.69 per cent during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 5.96 per cent, compared to a build up rate of 7.69 per cent in the corresponding period of the previous year," a government release has stated.

The index for ‘Non-Food Articles' group rose by 0.6 percent to 206.9 (provisional) from 205.6 (provisional) for the previous month due to higher prices of logs & timber (16%), soyabean (11%), raw rubber (7%), mesta and gingelly seed (5% each) and raw cotton, raw silk and raw jute (4% each). However, the prices of flower (18%), rape & mustard seed (9%), copra (coconut) and fodder (3% each) and groundnut seed and guar seed (1% each) declined.

The index for ‘Minerals' group rose by 2.1 percent to 357.4 (provisional) from 350.1 (provisional) for the previous month due to higher prices of zinc concentrate (5%), iron ore (4%), crude petroleum (2%) and copper ore (1%). However, the prices of magnesite (7%), sillimanite (6%), manganese ore and barytes (3% each) and chromite (1%) declined.

Declining inflation rate, may prompt the RBI to cut rates going forward in order to spur growth.

Read more about: wpi inflation
Story first published: Monday, April 15, 2013, 12:08 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more