India Wholesale Inflation Hits 38-Month High In March

The increase in inflation was largely driven by higher prices of crude petroleum and natural gas, other manufacturing items, non-food articles, basic metals and food articles.

The fuel and power index rose 4.13% in March compared to February. Within this, mineral oil prices increased 8.77%, while electricity prices declined by 5.07% during the month.

Prices of manufactured goods increased 0.88% in March. Out of 22 manufacturing groups, 16 recorded price increases, while 6 saw declines.

Meanwhile, the year-on-year inflation rate based on the WPI Food Index remained unchanged at 1.85% in March.