Deflating food prices softens India's WPI inflation

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

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.
    'Mass casualty incident' reported at SC maximum security prison

    '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.
    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).
  • Shenmue I & II Priced At $29.99, Featuring Achievements

    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.
    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".
    Fear The Walking Dead Will Make Way For More TWD Crossover

    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.
  • NFL Veteran James Harrison Announces He's Retiring

    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.
    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.
    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 .
  • US pastor faces terror charges in fraught trial in Turkey

    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.
    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.
    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.


Most liked

Gas prices poised to spike in Central Florida
According to gasoline price website GasBuddy .com, average retail gas prices rose by 1.5 cents per gallon last week. That means Orlando could see prices in the high $2.70s soon, said Mark Jenkins, a spokesman for AAA.

Indiana Farm Recalls More Than 200 Million Eggs over Salmonella Concerns
Rose Acre Farms responded to the discovery by voluntarily going through with the recall, and halting production of eggs. The agency advised the public to throw away the eggs or return them to the place of purchase for credit or refund.

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.

Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%
BSE sectoral indices, led by IT, Teck, oil and gas, PSU, power, infrastructure and banking stocks, declined up to 0.88%. The BSE Sensex rose 113 points, or 0.33 per cent, to close at 34,305 with 20 stocks advancing while 11 declining.

#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.

Armenians protest leader's plan to stay in power as prime minister
On the same day, protesters led by Pashinyan seized the building of Armenia's Public Radio for around an hour. The Constitution of Armenia was changed, transforming it from presidential to a parliamentary state.

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.

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.

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.

Shire plc (SHPG), Zions Bancorporation (ZION) — Hot Trending Stocks
The stock of Shire Plc - American Depositary Shares Each Repre (NASDAQ:SHPG) registered a decrease of 34.78% in short interest. Many traders will use a combination of moving averages with different time frames to help review stock trend direction.

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.

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 .

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.