“In the month of March, Wholesale price inflation in India rose to a four-month high of 14.55 per cent as against 13.11 per cent in February. In fact, wholesale price inflation has doubled in the past one year as it was 7.89 per cent in March, 2021.The rise was basically due to surging prices of crude petroleum and natural gas as well as basic metals. According to Commerce Ministry, prices of crude and petroleum products rose due to a disruption in global supply chain caused by the Russia-Ukraine war.
A wholesale price index (WPI) is a measure of the changes in the price of goods before they reach consumers: goods that are sold in bulk and traded between entities or businesses (rather than consumers). Wholesale price indexes (WPIs) are one of the indicator of a country’s level of inflation. According to reports, wholesale price index (WPI) was 14.27 per cent in December 2021. It came down to 13.68 per cent in January 2022 and then to 13.11 per cent in February. However in March 2022 it has spiked sharply due to the rising crude oil prices and other primary articles.
#WPI #Inflation #EconomicCrisis #PriceHike #War #Russia #Ukraine #HWNews
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
