Inflation based on the wholesale price index slowed down in March to 2.47% from 2.48% in February, government data said on Monday. The wholesale price inflation was 5.11% in March 2017.
The wholesale price index reflects the prices of goods bought and sold in the wholesale market. This is different from the consumer price index-based inflation, which reflects price changes in the retail market.
The easing of inflation was attributed to falling prices of food items, particularly vegetables and pulses. The reduction in pulse prices was pegged at 20.58%, in vegetables at 2.70%, wheat at 1.19 % and egg, meat and fish at 0.82% in March.
Wholesale food prices in March fell 0.07% year-on-year, compared with a 0.07% rise a month earlier.
On April 12, government data said India’s factory output grew by 7.1% in February over the same month in 2017.
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