The inflation was 3.85 per cent in February and 14.63 per cent in March 2022.
Inflation in food articles, however, rose to 5.48 per cent in March as against 3.81 per cent in February.
"Decline in the rate of inflation in March 2023 is primarily contributed by fall in prices of basic metals, food products, textiles, non-food articles, minerals,
Inflation in wheat and pulses was 9.16 per cent and 3.03 per cent, respectively while in vegetables it was (-)2.22 per cent. Inflation in oilseeds was (-)15.05 per cent in March 2023.
Fuel and power basket inflation eased to 8.96 per cent last month from 14.82 per cent in February. In manufactured products, inflation was (-)0.77 per cent as against 1.94 per cent.
The deceleration in WPI comes in line with the easing of March retail inflation.
Consumer price index-based retail inflation declined to a 15-month low of 5.66 per cent in March from 6.44 per cent in February.
In its monetary policy review earlier this month, the
The central bank also paused the interest rate hike, holding the benchmark rate at 6.50 per cent. It projected retail inflation to average 5.2 per cent in the current fiscal year.
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