Annual wholesale price inflation jumped in March to its highest level in three months on the back of a spurt in prices of food and fuel, posing a fresh challenge for policymakers to remain watchful on the price front.
Inflation, as measured by the wholesale price index, rose an annual 3.2% in March, higher than previous month’s 2.9% and above 2.7% posted in the same month a year earlier .
The WPI data showed food prices rose an annual 5.7% in March, picking up pace from previous month’s 4.3% increase. Prices of vegetables rose 28% compared to previous month’s 6.8%. Onion prices contracted 31.3% in March.
Fuel and power prices increased 5.4% in March, accelerating from previous month’s 2.2% rise.