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High Fuel Cost Pushes March WPI Inflation To 7.3 Percent
Increase in the cost of fuel including petrol, diesel as well as LPG resulted in wholesale inflation for March month surging to 7.3 percent.
In the December month last year, WPI was at 1.9 percent and then consistently surged to levels of 4.17 percent in February month.
Fuel inflation has jumped by 10.2%, which earlier contracted for the past 3 months, together with an uptick in food inflation, resulting in WPI rising for the third straight month.
Furthermore manufactured products that command a combined weight of 65 percent in the index surged by a sharp 7.3 percent.
CPI inflation for March released earlier this week came in at 5.52 percent, rising from February's 5.03 percent. The CPI levels have now remained within the RBI's medium term inflation target levels of 4(+/-2 percent) for the fourth straight month.
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