Wholesale inflation data March 2024: Wholesale inflation, or the rate of increase in wholesale prices of a basket of goods and services, in the country stood at 0.53 per cent in March, as against 0.20 per cent the previous month, official data showed on Monday. 

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According to Zee Business research, wholesale inflation, gauged by the Wholesale Price Index (WPI), was expected to be at 0.51 per cent in March. 

Wholesale food inflation, measured by the WPI Food Index—which carries a weightage of 24.38 per cent in the overall WPI basket, stood at 4.65 per cent last month as against 4.09 per cent in February. 

Wholesale inflation in primary articles, including crude oil, natural gas, food articles and minerals, came in at 0.94 per cent in March, and in fuel and power, including electricity and mineral oils, stood at 0.06 per cent. 

In manufactured products, which account for 64.23 per cent of the WPI index, wholesale inflation was at 0.21 per cent. Primary articles, and fuel and power carry weightages of 22.62 per cent and 13.15 per cent in the WPI, respectively. 

Meanwhile, separate data released last week showed consumer inflation in the country, measured by the Consumer Price Index (CPI), eased to 4.85 per cent in March from 5.09 per cent the previous month. Read more on March 2024 retail inflation data

The RBI tracks consumer inflation data primarily for formulating its monetary policy. 

Wholesale inflation refers to the rate at which the prices of goods and services purchased in bulk by businesses increase. On the other hand, consumer inflation measures the change in prices of goods and services bought by households. The key difference lies in the target audience of the inflation index.

Wholesale inflation impacts businesses directly, influencing production costs and profit margins. In contrast, consumer inflation directly affects individuals' purchasing power and cost of living. While both indicators reflect economic trends, their implications vary significantly for businesses and consumers alike.

Factors such as raw material costs, supply chain disruptions, and market demand influence wholesale inflation trends.