High prices of vegetables and manufactured items pushed up headline inflation in March to 8.98 per cent, way above the RBI's expectation of 8 per cent. The overall inflation measured on the basis of Wholesale Price Index was 8.31 per cent in February. As per official data released today, the high inflation was on account of rising prices of manufactured items, milk, vegetable and fruits. In addition, high fuel costs due to spiralling international crude oil prices also contributed to the phenomenon. Besides, food inflation, which accounts for nearly 15 per cent of overall WPI inflation, stood at 8.28 per cent for the week ended April 2. It has declined from 9.18 per cent in the previous week.
News On AIR | April 15, 2011 2:00 PM
Inflation rises to 8.98 pc in March