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

Representational Image

Representational Image

The annual inflation rate in Brazil decelerated to 2.68% in March, from 2.84% in February, remaining below the bottom of the central bank's target, which ranges from 3% to 6%.

Wholesale food prices in March fell 0.07% year-on-year, compared with a 0.07% rise a month earlier.

"After the surge seen in the previous month, the core-WPI inflation eased to a three month low 3.6 per cent in March 2018 from 3.9 per cent in February 2018, reflecting a favourable base effect as well as the trend in a number of sub-sectors with a substantial weight such as textiles, basic metals, fabricated metal products, and motor vehicles, trailers and semi-trailers etc". Inflation in the fuel and power basket, however, rose to 4.70 per cent in March from 3.81 per cent in February.

As per data released last week, retail inflation slipped to a five-month low of 4.28 per cent in March on account of decline in food prices.

Prices of the other major group under the WPI, manufactured products, which comprise almost 64.23 per cent of the index, recorded a 3.03 per cent rise.


On the other hand, the index for "Manufacture of Textiles" sub-group rose by 0.4 per cent to 114.1 from 113.7 for the previous month due to higher price of viscose yarn, knitted and crocheted fabrics, synthetic yarn and weaving and finishing of textiles (1 per cent each).

Index for "Minerals" group declined by 2.0 percent to 119.7 (provisional) from 122.2 (provisional) for the previous month due to lower price of copper concentrate (14%) and phosphorite (1%). The price of petroleum coke (11 per cent) and kerosene (2 per cent) moved up. On the basis of Wholesale Price Index (WPI), inflation has steadily softened from 2.84 per cent in January to 2.47 per cent the following month.

In contrast, the overall vegetable prices in March deflated (-) 2.70 percent, against a fall of (-) 0.50 percent in the same month a year ago.

In its first monetary policy review for 2018-19, the Reserve Bank earlier this month maintained status quo on interest rate citing inflationary concerns.

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.

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