After the retail inflation, now the people of the country have suffered a setback on the wholesale inflation front. In March, wholesale inflation reached the level of 14.55 percent. It is worth noting that earlier in February, it had increased at the rate of 13.11. The central government has blamed the Russia-Ukraine war for the rising inflation.
Relief on vegetables, disaster on fuel
If we look at the data released by the government, on one hand, the inflation on vegetables and other food items has come down in March, while on the other hand there has been a sharp increase in the prices of fuel and electricity. Inflation on vegetables was 26.93 percent in February, which has come down to 19.88 percent in March. On the other hand, if we look at the rate of inflation on other food items, it has come down from 8.19 to 8.06. Inflation on fuel and electricity increased from 31.50 percent to 34.52 percent in March.
A fire broke out in the price of petroleum products
Inflation on crude and petroleum products rose sharply and rose to 83.56 percent, as against 55.17 percent in February. In other sectors, the inflation rate on primary articles increased from 13.39 percent to 15.54 percent, on manufactured products increased from 9.84 to 10.71 percent, and the commodity index increased by 2.69 percent. According to the data released by the government, the wholesale inflation rate in the country has been higher than the earlier estimates. Experts had estimated it to increase to 13.30 percent.
Wholesale inflation in double digits for 12 months
Let us inform you here that on the inflation front, month after month, the general public of the country is getting a setback. The situation is that the figure for wholesale inflation has remained in double digits for the last 12 months. Along with this, let us tell you that the level of wholesale inflation in March is the highest in the last four months or November 2021. The ongoing war between Russia and Ukraine has also played an important role in this. After the release of wholesale inflation figures, the government has also issued a big statement in this regard.
The impact of the Russo-Ukraine War
After the release of wholesale inflation data in the country, a statement from the central government said that the high rate of inflation in March 2022 was mainly due to disruption in the global supply chain due to the Russia-Ukraine conflict crude petroleum and natural gas. This is due to the increase in the prices of other things including mineral oil, and basic metals.
Retail inflation at a 17-month high
If we look at the data released by the government in the past, retail inflation increased to 6.95 percent in March. Earlier in February, retail inflation had increased at the rate of 6.07 percent. This retail inflation is the highest in the last 17 months. Inflation continues to remain above the RBI's satisfactory level. This is the third consecutive month that retail inflation has remained above 6 percent. Earlier in October 2020, retail inflation was at a high of 7.61 percent.
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