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techkenyot.com July 16, 2018


Wholesale inflation eases marginally to 2.47% in March'18

16 April 2018, 03:33 | Hattie Nash

Wholesale inflation eases marginally to 2.47% in March'18

Wholesale inflation eases marginally to 2.47% in March'18

ANZ Bank New Zealand economists said the fees-free first-year tertiary education policy broadly offset any inflationary pressure coming from the usual annual increase in tobacco excise duty, with a 4 per cent fall in the education group instead of its typical first quarter rise.

Wholesale food prices in March fell 0.07% year-on-year, compared with a 0.07% rise a month earlier.

Inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables.

Prices of the other major group under the WPI, manufactured products, which comprise almost 64.23 per cent of the index, recorded a 3.03 per cent rise.

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Furthermore, index for "Non-Food Articles" group declined by 0.3 percent to 120.2 (provisional) from 120.6 (provisional) for the previous month due to lower price of guar seed (7%), niger seed (6%), floriculture (5%), raw cotton, cotton seed, skins (raw) and gingelly seed (3% each), copra (coconut) (2%) and linseed, castor seed, raw jute, groundnut seed and rape & mustard seed (1% each). Deflation in pulses was 20.58 per cent, in vegetables (2.70 per cent), wheat (1.19 per cent) and egg, meat and fish (0.82 per cent) in March.

Wholesale inflation rate, measured by Wholesale Price Index (WPI), is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.

The sub-category of manufactured food products became dearer by 0.31 per cent. The price of petroleum coke (11 per cent) and kerosene (2 per cent) moved up.

Inflation for fuel and power segment came at 4.70% in March as compared to 3.81% for the previous month.

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The inflation based on Consumer Price Index (CPI), a key data factored in by the RBI to arrive at interest rate, was 4.44 per cent in February.

Inflation in onion continued to stay high at 42.22 per cent and in potato at 43.25 per cent.

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