The common man has been hit on the inflation front. Wholesale inflation for MarchMarch WPI Inflation) Has increased. According to government data, wholesale inflation rose to 14.55 per cent in March 2022. The wholesale price inflation was 13.11 per cent in February, compared to 12.96 per cent in January. Rising inflation based on wholesale price index affects normal life as supply of goods becomes more expensive.. WPINo means wholesale price index. It is an index on which the prices of bulk goods are declared.
Rising food inflation
On a monthly basis, food inflation rose to 8.71 per cent in March from 8.47 per cent in the previous month. Wholesale fuel and power inflation rose to 34.52 per cent from 31.50 per cent. The primary article WPI rose 13.39 per cent to 15.54 per cent.
The wholesale price of potatoes has gone up sharply
The wholesale price of potatoes has risen sharply. Potato inflation rose to 24.62 per cent from 14.78 per cent. Onion wholesale inflation rose to -9.33 per cent from -26.37 per cent. Wholesale prices of eggs and meat rose to 9.24 per cent from 8.14 per cent in the previous month.
WPI at four-month high, vegetable WPI declined
Wholesale inflation rose to a four-month high in March on rising crude oil and commodity prices. The commodity index WPI rose 2.69 per cent. WPI of vegetables fell from 26.93 per cent to 19.88 per cent.
Retail inflation close to 7%
Let me tell you that retail inflation rose to 6.95 per cent in March. This is the highest level in 17 months. Earlier, retail inflation was 6.07 per cent in February. Retail inflation has risen due to rise in food prices.
This is the third consecutive month that retail inflation has been above the RBI limit. The Reserve Bank has set a target of keeping retail inflation at 4 per cent and has set a limit of 2 per cent and above 2 per cent. The general range of inflation for the central bank is between 2 and 6 percent. However, for three consecutive months, the retail inflation rate was more than 6 per cent. The Reserve Bank may raise the repo rate by 50 basis points to reduce inflation. According to the Ecowrap report, the RBI may raise the repo rate by 25 bps at the MPC meeting in June and 25 basis points in August.
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