Wholesale Inflation Slips to 2.05% In March As Food Index Witnesses A Declines

India’s wholesale price index (WPI)-based inflation declined to 2.05% in March 2025 from 2.38% in February 2025, according to data released by the Ministry of Commerce and Industry on Tuesday. The WPI inflation has now remained in positive territory for over a year. The March figure reflects easing food prices even as inflation in key manufactured products continued. The positive rate of inflation in March primarily results from higher prices of manufactured food products, other manufacturing items, food articles, electricity, and textiles. The Department for Promotion of Industry and Internal Trade (DPIIT) released the index on April 15, 2025, as per its monthly schedule.

Food Index Falls as Prices Cool

The Food Index, which includes ‘food articles’ from the primary articles group and ‘food products’ from the manufactured products group, declined to 4.66% in March from 5.94% in February 2025. This decline signals a slowdown in food inflation, which had remained elevated in previous months due to a spike in the prices of vegetables, fruits, oils, and fats.

Primary Articles Show Mixed Trends

The primary article group of WPI registered a Month-over-Month decline of 1.07%, falling to 184.6 (provisional) in March from 186.6 in February 2025. Prices of crude petroleum and natural gas fell by 2.42%, non-food articles by 2.40%, and food articles by 0.72%. In contrast, the price of minerals increased by 0.31% during the same period.

Historical Context And Release Pattern

In April 2024, wholesale inflation turned negative briefly before returning to positive levels. In July 2020, during the early COVID-19 phase, the WPI had also dipped into negative territory. Earlier, WPI inflation remained in double digits for 18 consecutive months until September 2022. DPIIT releases WPI data monthly on the 14th or the next working day, compiling it from selected manufacturing units and institutional sources.

(With Inputs From ANI)

Also Read: Global Pressures from U.S. Tariffs and China’s Oversupply May Stall India’s Private Investment: UBS