India's WPI inflation for apparel drops 0.9% in March

India's WPI inflation for apparel drops 0.9% in March

Wholesale price inflation (WPI) in India stood at 2.47% in March, 2018. Manufactured products inflation was at 3.03 per cent even as sugar prices fell 10.48 per cent during the month.

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.

Food and beverage prices were 0.9 per cent up, on an annual basis, while the price of utilities and housing has increased by 4.6 per cent and transportation costs were 0.7 per cent higher compared to a year earlier.

Food inflation came negative at 0.29% in March against 0.88% in the previous month.

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. The index for fuel and power (weight 13.15 per cent) also declined by 0.1 per cent to 98.0 from 98.1 for the previous month due to lower price of LPG, naphtha, HSD, bitumen, petrol and furnace oil.

Russian Federation implements ban on Telegram
April 16, Roskomnadzor ordered the operators to start blocking Telegram across the country. In Moscow, the Telegram app was still functioning as normal early on Monday afternoon.

Meanwhile, the WPI inflation for January 2018 has been revised upwards to 3.02 per cent from a level of 2.84 percent (provisional) earlier. However, the price of petroleum coke and kerosene moved up.

Sunil Kumar Sinha, Director, Public Finance and Principal Economist, India Ratings said: "Unlike the retail inflation which dipped by 16bp in March 2018 over the previous month, the wholesale inflation remained flat".

It revised downwards its forecast for retail inflation, to 4.7-5.1 percent for the April-September period and 4.4 percent for the October-March period.

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.

The CSO data revealed that the consumer food price index (CFPI) stood at 2.81 percent in March compared to 3.26 percent in February 2018. Find us on Facebook too!

Related Articles

  • Eagles release CB Daryl Worley shortly after arrest

    Eagles release CB Daryl Worley shortly after arrest

    The 23-year-old was allegedly in possession of a firearm when police found him passed out at the wheel of his auto . Philadelphia did not absorb a financial penalty by cutting Worley and saved $670,000 against the salary cap.
    John Oliver offers Russel Crowe's jockstrap to Anchorage Blockbuster

    John Oliver offers Russel Crowe's jockstrap to Anchorage Blockbuster

    The HBO host wants to send it to the last remaining Blockbuster store in Anchorage, Alaska, to help save it from extinction. Before auction, the estimated value of the item had been set at $500.
    Beyonce's Coachella set includes Destiny's Child reunion

    Beyonce's Coachella set includes Destiny's Child reunion

    Each university will select its own finalists and victor , with winners set to be announced sometime this summer. Those scholarships were in commemoration of the one-year anniversary of the singer's visual album, "Lemondae".
  • Tesla Inc (TSLA) Has Been Underreporting Worker Injuries

    Tesla Inc (TSLA) Has Been Underreporting Worker Injuries

    Following the completion of the sale, the director now directly owns 5,600 shares of the company's stock, valued at $1,424,472. Volume is an important indicator in technical analysis as it is used to measure the relative worth of a market move.
    Karnataka elections: BJP releases second list of 82 candidates

    Karnataka elections: BJP releases second list of 82 candidates

    Khan on Monday hit out at the party leadership over ticket distribution for the forthcoming assembly elections in the state. It is yet to announce who will take on CM Siddaramaiah in Chamundeshwari and the CM's son Yathindra in Varuna.
    Broncos Release Running Back CJ Anderson

    Broncos Release Running Back CJ Anderson

    Anderson had been on the roster bubble for a while, and many expected the Broncos to release him earlier this offseason. Denver has high expectations for Devonte Booker, despite him managing just 299 yards in 13 appearances last season.
  • Gas prices go back up in Baton Rouge after one week reprieve

    Gas prices go back up in Baton Rouge after one week reprieve

    Tennessee gas prices are the most expensive since last September, when prices were recovering from Hurricane Irma. Meanwhile, demand for gasoline in the United States is essentially flat from past year .
    Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%

    Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%

    Meanwhile, the Nifty was trading lower by 26.70 points or 0.25% at 10,453.90 with 26 components falling. In the broader market, the BSE Midcap was little changed, while the BSE Smallcap gained 0.4 per cent.
    Samsung Galaxy Note 9 is codenamed as 'Crown'

    Samsung Galaxy Note 9 is codenamed as 'Crown'

    According to the insider, the new product 100% will get dual camera, Wi-Fi modules and Bluetooth, and 4G with voice support. The smartphone is still in the stage of development, but the leaks have started pouring in about this flagship smartphone.
  • Bank of America hits profit high - but investment bank stumbles

    Bank of America hits profit high - but investment bank stumbles

    Scott Burney increased its stake in Bank Amer Corp ( BAC ) by 104.89% based on its latest 2017Q4 regulatory filing with the SEC. Earnings per share rose by 38 per cent to $0.62, above the $0.59 predicted by analysts according to consensus expectations.
    Shenmue I and II are coming to current gen platforms

    Shenmue I and II are coming to current gen platforms

    Sega confirmed the news at Sega Fest 2018, saying these action-adventure classics will be making their way to PS4 in Japan. The third installment in the series ran a successful Kickstarter campaign and is expected to be out later this year.
    John Stamos Announces Son's Birth, Shares First Photo

    John Stamos Announces Son's Birth, Shares First Photo

    Stamos is best known for playing Uncle Jessie on " Full House " from 1987 to 1995. "I've been practicing for a long time". John and his 32-year-old wife announced that they were expecting their first child back in December.