NEW DELHI: The Wholesale Price Index (WPI)-based inflation fell to a 29-month low at 1.34% in March 2023 on account of moderation in the prices of basic metals, and food products, according to the government data. This is the tenth straight month when the WPI-based inflation decreased. It stood at 3.85% in the month of February on easing prices of manufactured items and fuel and power.
"Decline in the rate of inflation in March 2023 is primarily contributed by fall in prices of basic metals, food products, textiles, non-food articles, minerals, rubber & plastic products, crude petroleum & natural gas and paper and paper products," the ministry of commerce said in a statement.
It is to be noted that WPI-based inflation stood at 4.73% in January, 4.95% in December 2022, and 5.85% in November 2022.
Meanwhile, retail inflation also declined to 5.66% at a 15-month low, the Ministry of Statistics and Programme Implementation recently said.