: March WPI inflation at 14.6% due to supply chain disruptions #FinanceIndia #StockMarketNEWS March WPI inflation at 14.6% due to supply chain disruptions New Delhi, April 19 (KNN) The Department for

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March WPI inflation at 14.6% due to supply chain disruptions #FinanceIndia #StockMarketNEWS
March WPI inflation at 14.6% due to supply chain disruptions New Delhi, April 19 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) has showed the wholesale price index (WPI) inflation at 14. 6 per cent in March owing to the supply chain disruptions caused by the Russia-Ukraine conflict.

As per the data released by DPIIT on Monday the wholesale price inflation rose to a four month high in March due to the sharp increase in prices of crude petroleum and natural gas, mineral oils and basic metals.

The WPI jumped to 14. 6 per cent in March, higher than the 13. 1 per cent in February and 7.9 per cent in March 2021.

It is the first time ever that the WPI inflation has been in double digits for 12 months in a row emphasizing the entrenched price pressures.

Household budgets and the poor have been hurt the most due to the stubborn inflation and has also dampened consumption, which is imperative for growth.

The Reserve Bank of India (RBI) had recently increased inflation forecast to 5. 7 per cent for FY23 referring to the increase in commodity prices and disruption in supply chains.

The central bank also lowered the GDP growth forecast to 7. 2 per cent for FY23 from the earlier projection of 7. 8 per cent. (KNN Bureau)