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India's inflation soared to 3-mo high in March
Publication Date : 16-04-2014
India's wholesale price index (WPI)-based inflation rose to a three month high of 5.7 per cent in March due to the rise in prices of potatoes, onions and fruits.
The inflation in food items, based on WPI, jumped by 9.9 per cent in March as against 8.12 per cent in the previous month, according to official data.
The overall WPI inflation, which was on the decline since December, had dropped to a nine-month low of 4.68 per cent in February. The January inflation number has been revised upward to 5.17 per cent as against the earlier estimate of 5.05 per cent.
Meanwhile, Corporate India today said the revival of high inflation called for supply side measures to raise farm productivity.
The CII said the demand in the economy is weak, as is evident from all indicators of growth. The Rupee has also strengthened. Therefore, this rise in WPI inflation has to be attributed to supply side constraints in the agricultural side, it said, reacting to the developments.