India Wholesale Price Index (WPI) Report: March 2024

March 2024 witnessed a positive inflation rate of 0.53% in India’s Wholesale Price Index (WPI) compared to March 2023. This inflation was primarily attributed to increased prices in food articles, electricity, crude petroleum & natural gas, machinery & equipment, and other manufacturing sectors.

Month-over-Month Change in Major Groups of WPI

1. Primary Articles (Weight 22.62%)

• The Primary Articles group’s index surged by 0.94% to 183.1 in March 2024. Significant price increases were seen in crude petroleum & natural gas, food articles, minerals, and non-food articles.

2. Fuel & Power (Weight 13.15%)

• The Fuel & Power group’s index rose marginally by 0.06% to 155.2 in March 2024. While electricity and mineral oils saw price increases, coal prices declined.

3. Manufactured Products (Weight 64.23%)

• The Manufactured Products group index increased by 0.21% to 140.1 in March 2024. Notable price increases were observed in food products, motor vehicles, trailers and semi-trailers, rubber and plastics products, and other manufacturing sectors.

4. WPI Food Index (Weight 24.38%)

• The WPI Food Index, comprising food articles from Primary Articles and food products from Manufactured Products, rose from 178.3 in February 2024 to 180.1 in March 2024. This led to an increase in the inflation rate from 4.09% to 4.65%.

Additional Information

• In January 2024, the final WPI stood at 151.2 with an inflation rate of 0.33%.
• The response rate for March 2024’s WPI compilation was 83.6%.
• The next WPI release for April 2024 is scheduled for May 14, 2024.
• Provisional figures of WPI undergo revision as per the final revision policy.