The wholesale price index (WPI) based inflation in India in the month of March rose to 14.55% due to an increase in power prices and rising edible oil prices. In March 2022, the high rate of inflation was recorded due to a rise in prices of mineral oils, crude petroleum and natural gas, and basic metals owing as there was a disruption in the global supply chain caused by the Russia-Ukraine conflict. In March 2021, the WPI-based inflation had stood at 7.89%.
The food index, which includes food products from the Manufactured Products group and food articles from the government’s Primary Articles group, has risen to 167.3 in March 2022 from 166.4 in February 2022. The WPI Food Index-based rate of inflation also increased to 8.71 % in March 2022 from 8.47 % in February 2022. In March 2022, the index for the major fuel and power group increased by 5.68 % to 146.9 from 139.0 in February 2022.