New Delhi: Data released by the Union government revealed that the annual wholesale-price based inflation (WPI) slipped to 30-month low in March. WPI in March was 1.34% year-on-year, lower than 3.85% in the previous month and a Reuters poll of 1.87%.
In March, the food index rose 2.32% year-on-year. It was at 2.76% in February. The fuel and power rose 8.96%, slowing from the 14.82% rate. WPI on manufactured products fell 0.28%, compared with a fall of 0.14% in the previous month.
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There are two indices that measure inflation in India — Whole Sale Price Index and Consumer Price Inflation (CPI). While WPI captures prices at the level of production or manufacturing, taking into account goods traded between companies, CPI measures prices at the retail consumer level. The major part of WPI is driven by manufactured goods while food items constitute a major part the CPI.
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