March inflation rises to 8.98% vs 8.31% in Feb

The wholesale price index (WPI) for the year rose to 8.98% in March as against 8.31% in February on higher fuel and manufactured product prices. A CNBC-TV18 poll forecasted a 8.38% rise in the figure for the said month. The reading for January was upwardly revised to 9.35% from 8.23%. The food price index rose 8.28% and the fuel price index climbed 12.97% in the year to April 2. In the previous week, annual food and fuel inflation stood at 9.18% and 13.13%, respectively. The primary articles price index was up 11.40%, compared with an annual rise of 12.97% a week earlier. Jonathan Cavenagh senior forex strategist for institutional forex sales-Asia at Westpac Institutional Bank, said this was a pretty strong inflation print for India—9% versus 8.36%. Source: www.moneycontrol.com Thanks, Gaurav Agarwal Head Dealer DENIP Consultants Pvt Ltd