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WPI inflation spikes to over 8-year high of 7.39% in March
Inflation creeps closer to double digits.
PTI reports: “The wholesale price-based inflation shot up to over 8-year high of 7.39 per cent in March on rising crude oil and metal prices.
Also, the low base of March last year, when the data was computed with a low response rate due to the nationwide lockdown, contributed to a spike in inflation in March 2021.
The WPI inflation was 4.17 per cent in February and 0.42 per cent in March 2020.
This is the third straight month of up-tick seen in the wholesale price index (WPI) based inflation.
“The annual rate of inflation stood at 7.39 per cent (provisional) for the month of March 2021 over March 2020,” the Commerce and Industry Ministry said.
Such a high level of WPI was last recorded in October 2012,…