India's rising retail inflation - Consumer Price Index in March 2021

 India's rising retail inflation - Consumer Price Index in March 2021

Inflation in India, since 2012(Base rate of 100) is estimated in terms of Retail Inflation. Significantly, the WPI(Wholesale price index) was previously calculated. At the end of March 2021, the Retail Inflation stood at 156.8 Points where the country's CPI Retail inflation rate rose to 5.52 Percent.

It is noteworthy that the CPI Inflation in the month of January 2021 was 4.06 Percent. The current said inflation rate has been higher than the market expected. Inflation rose in March due to high prices in Food products, especially in Pulses.

Food Inflation stood at 4.94 Percent at the end of March, up from 3.87 Percent in the month of February. The prices of Pulses has increased by 13 Percent. At the same time, the Vegetable prices declined slightly to 4.83 Percent. 

 


Fuel and Light prices rose from 3.53 Percent to 4.50 Percent. Clothing and Footwear were increased to 4.41 Percent in March, earlier it was 4.21 Percent in the month of February. Housing prices were increased to 3.5 Percent from the 3.23 Percent.

Miscellaneous(Other products and services) have slightly increased, but Pan and Tobacco prices fell to 9.81 Percent from 10.70 Percent. India's Consumer Price Index - CPI Retail inflation has been volatile for the past two years. 

However it is noteworthy that the retail inflation is with in the range of RBI's Short term Target of 2-6 Percent. Food and its products contributes 45.86 Percent in the CPI Retail Inflation for India. Transport and Telecommunication contributes 8.6 Percent, Health around 5.9 Percent, Housing at 10 Percent, Education of 4.46 Percent, Clothing and Footwear for 6.53 Percent.

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