Wholesale price inflation eases to 1% in March

Wholesale price inflation fell to 1% in March from 2.26% in February, government data showed on Wednesday.

The wholesale inflation based on wholesale price index (WPI) fells sharply due to a fall in food prices in the country.

According to data released by the Commerce and Industry Ministry, food inflation in March fell to 4.91% from 7.79% in the previous month.

The ministry said the nationwide lockdown due to coronavirus outbreak, which started on March 25, would have had some impact on the data collection for the month.

Inflation in vegetables fell sharply to 11.90% in March from a high of 29.97% in the previous month.

Inflation in onion prices, however, continued to rule high at 112.31% during March.

Fuel and power basket witnessed deflation of 1.76%, while manufactured products witnessed inflation of 0.34%.

Due to the outbreak of coronavirus and national lockdown, the provisional figures of WPI for the latest month are computed with low response rate, the ministry said.

"The figures are likely to be revised in a significant manner during the release of final month," it added.