India’s inflation based on wholesale price index (WPI) declined further to 1.34% (Provisional) for the month of March 2023 as against 3.85% recorded in February 2023, due to fall in prices of non-food articles, mineral oils and electricity. The wholesale inflation was 4.73% in January 2023.
The Component wise, primary articles index, having weight of 22.62%, increased 1.16% to 175.0 (provisional) in March 2023 from 173.0 (provisional) for the month of February 2023. Prices of minerals, crude petroleum & natural gas and food articles increased in March 2023 as compared to February 2023, while prices of non-food articles declined in March 2023 as compared to February 2023.
Fuel & Power index, having weight of 13.15%, declined 1.26% to 156.8 (provisional) in March 2023 from 158.8 (provisional) for the month of February 2023. Prices of coal increased in March 2023 as compared to February 2023, while prices of mineral oils and electricity declined in March 2023 as compared to February 2023.
Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, declined 0.28% to 141.2 (provisional) in March 2023 from 141.6 (provisional) for the month of February 2023. Meanwhile, for the month of January 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 150.7 and 4.80% respectively.
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