Deflating food prices softens India's WPI inflation

Representational Image

Inflation was at 2.48 per cent rise in February and 5.11 per cent in March previous year.

On the basis of Wholesale Price Index (WPI), inflation was 2.48 per cent in February and 5.11 per cent in March past year.

New Zealand's annual pace of inflation probably slowed in the first three months of the year as the government's "fees free" tertiary education policy comes into effect, removing price pressures in the sector.

Food prices were 0.3 per cent lower compared to February and services prices shrank by 0.4 per cent, while non-food prices were down by 0.2 per cent.

"Moreover, while average petrol prices at the pumps dropped 1.4 per cent between February and March this year, that was only a touch bigger than the 0.8 per cent drop seen between the same months in 2017".

Despite keeping rates on hold, the committee said that "ongoing tightening of monetary policy" would be needed to bring inflation back to the Bank's 2 per cent target.

The inflation data for January was revised upwards to 3.02 per cent from the provisional estimate of 2.84 per cent.

As per the official government data released Monday, food articles showed deflation at 0.29 per cent in March as against a 0.88 per cent inflation in the preceding month. The price of petroleum coke (11 per cent) and kerosene (2 per cent) moved up. However, rising crude oil prices pushed up inflation in the "fuel and power" basket to 4.70 per cent in March from 3.81 per cent in the previous month.

"Unlike the retail inflation which dipped by 16bps in March 2018 over the previous month, the wholesale inflation remained flat". It revised downwards forecast for retail inflation to 4.7-5.1 per cent for April-September and 4.4 per cent for October-March.

"However, there are some noticeable changes at the disaggregate level".

Primary food articles recorded a year-on-year (YOY) disinflation after a gap of eight months in March 2018, dampened by a YoY contraction in all of the major categories (namely vegetables, cereals, pulses, eggs, meat and fish, other food articles, and condiments and spices) except for fruits and milk, she said. Find us on Facebook too!

Related News:

  • China's Weibo backtracks on 'homosexual content' ban

    China's Weibo backtracks on 'homosexual content' ban

    Last month, a Beijing film festival pulled the Oscar-nominated gay-themed film Call Me By Your Name from its calendar without an explanation.
    Franklin Township: Area Under Flash Flood Watch

    Franklin Township: Area Under Flash Flood Watch

    Thunderstorms are expected to arrive just before or during the Monday morning commute according to the NWS. Chilly conditions will replace the rain as the storm continues to move to the East.
    Jon Rahm earns special home win with Spanish Open title

    Jon Rahm earns special home win with Spanish Open title

    South African George Coetzee surged 31 places through the field to finish fourth with the best round of the day, a 63. World number four John Rahm fired a final round five-under-par 67 to win the Open de Espana in Madrid .
  • Daryl Worley Charged With DUI, Disorderly Conduct After Arrest

    Daryl Worley Charged With DUI, Disorderly Conduct After Arrest

    On questioning, the police allege that Worley had a gun in his auto and wasn't willing to be cooperative with the police. The football player was passed out in his auto Sunday morning near the teams' practice facility in South Philadelphia.
    Five uncapped players in Pakistan's Cricket Test squad

    Five uncapped players in Pakistan's Cricket Test squad

    Pakistan are the opponents for Ireland's first Test match in Malahide, with the historic game getting underway on May 11. He was our strike bowler, all the games we've won he played a big part in.
    Monsoon will be Normal This Year, Says Met Department

    Monsoon will be Normal This Year, Says Met Department

    In 2016, good monsoon has led to record production of oilseeds, food grains and also triggered a 4.2 per cent agriculture growth. The prediction stands at a moderate error estimated of plus-minus 5 per cent of the Long Period Average (LPA).
  • Man City eye record books after clinching title

    Man City eye record books after clinching title

    Henceforth, City would eye surpassing Chelsea's record 95 points accumulated in a single season. Thank you for your support all season! "I may be the first one thinking about next season".
    United States  to punish Russian Federation  for supporting Syria

    United States to punish Russian Federation for supporting Syria

    Air strikes by the allies on Saturday hit three targets that Western officials said were linked to chemical weapons development in the Damascus and Homs areas.
    'Kingdom Hearts III' minigames riff on pre-smartphone mobile games

    'Kingdom Hearts III' minigames riff on pre-smartphone mobile games

    If you have participated in discussions about Kingdom Hearts 3 , you must've at least viewed a couple of fan-made endings. Because this falls on a Thursday, it's a tad suspect, since that is not typically when publishers release titles.
  • Messaging App 'Telegram' Has Been Banned In Russia

    Messaging App 'Telegram' Has Been Banned In Russia

    Other countries to have blocked the app or its services includes Saudi Arabia, Pakistan, Indonesia, and Bahrain. Messenger's refusal to hand over its encryption keys to the FSB provoked the trial in the first place.
    Mecca Masjid blast verdict: Security stepped up in Hyderabad

    Mecca Masjid blast verdict: Security stepped up in Hyderabad

    Two other accused - Sandeep V Dange and Ramchandra Kalsangra - are absconding while another accused Sunil Joshi had died. March 23, 2017: Hyderabad court has granted Aseemanad bail on condition that he cannot leave Hyderabad and Secunderabad.
    How do Rockets match up against Timberwolves?

    How do Rockets match up against Timberwolves?

    The Minnesota Timberwolves are averaging 109.5 points on 47.6 percent shooting and allowing 107.3 points on 47.5 percent shooting. Houston Rockets forward/center Ryan Anderson (ankle) is "50-50" to play in Game 1 on Sunday against the Minnesota Timberwolves .


Most liked

NFL Veteran James Harrison Announces He's Retiring
Harrison posted a collage of pictures of his two sons and noted he's "missed way too much for way too long. and I'm done". And what did Harrison do with his newly found free time? His previous retirement attempt lasted only one month in 2014.

US pastor faces terror charges in fraught trial in Turkey
His wife was in the courtroom, as were North Carolina Senator Thom Tillis and the USA envoy for religious freedom, Sam Brownback. Bozdag said: 'Turkey's Syria policy is not a policy of being on the same side or being opposed to another country.

Tesla Model 3 Celebrates Growth, No Improvements On Quality
Gracias sold 5,600 shares of the business's stock in a transaction dated Wednesday, January 25th. (NASDAQ: TSLA ) or 4,065 shares. Zacks Investment Research downgraded Tesla from a hold rating to a sell rating in a research note on Saturday, January 20th.

Shenmue I & II Priced At $29.99, Featuring Achievements
Shenmue 1 was released for the Dreamcast in 1999 with a sequel in 2001 for Japan and Europe only. With that in mind, it makes sense to re-release the original games to try and grow the fan base.

#BeyChella: Here's Everything Beyoncé Wore For Her Iconic Coachella Performance
According to a press release, Beyonce's near-two-hour performance spearheaded the release of this educational opportunity.

Karnataka elections: BJP releases second list of 82 candidates
On Sunday, the Congress announced a list of 218 candidates for the Assembly elections due in Karnataka on May 12. They burned tyres and shouted slogans against party President Rahul Gandhi on a highway near Nelamangala.

EPL: Man City crowned champions as United crash
City are worthy champions, having been head and shoulders above their neighbours as well as the rest of the league this season. The Portuguese manager said that City deserved their title and he had offered them his congratulations after the derby win.

Broncos releasing RB CJ Anderson after five seasons
Eric Studesville, who was recently named the Dolphins running backs coach, was Anderson's position coach in Denver from 2013-2016. The Broncos have Devontae Booker and D'Angelo Henderson in their backfield, but are expected to add a player in the draft.

United Kingdom joins Syria air strikes in response to chemical attack
This massacre was a significant escalation in a pattern of chemical weapons use by that very bad regime. She added: "I think that Parliament should have been recalled before the strike".

Fear The Walking Dead Will Make Way For More TWD Crossover
I hope that the people who have been watching that show still see what they love in the show, which I think are the characters. When we last saw them, Madison, Alicia, Nick, Victor, Luci, and Daniel were all separated, namely by the explosion at the dam.

'Mass casualty incident' reported at SC maximum security prison
Officials say a lot of them were stabbed or slashed; No officers were wounded, and the names of the dead haven't been released. The maximum-security facility houses about 1,500 inmates, some of South Carolina's most violent and longest-serving offenders.

Several inmates killed at SC prison after hours of fighting
All prison staff and responding law enforcement were safe after the incident, the South Carolina Department of Corrections wrote. Several fights broke out among inmates in three separate housing units at the Lee Correctional Institution around 7:15 p.m.

Sony Xperia XZ2 Premium arrives with dual cameras and 4K HDR screen
At the moment, Huawei's P20 Pro has the highest ISO of 102400 for photos but that's only available later via a software update. There's also the 960 fps Super Slow Motion mode we saw on the Xperia XZ2 at MWC 2018 , in both 1080p and 720p resolutions.

Home hopes high for historic U.S. victory in Boston Marathon
The cloud on Hasey's horizon, however, is that she has reportedly been suffering from a foot injury. Jordan Hasay has withdrawn from the Boston Marathon due to a stress reaction in her heel.

David Silva celebrates Premier League title triumph with son
Kompany and co. have the opportunity to secure the highest number of wins, points and goals scored in a Premier League season. It's their third title in seven years and they're already heavy favourites to retain their crown next season.