According to the government data, India’s annual Wholesale Price Index (WPI)-based inflation has declined to a 29-month low of 1.34% in March 2023, as input prices continued to moderate. This is the 10th straight month of decline in WPI-based inflation.
The WPI inflation data was 3.85% in February, 4.73% in January 2023, and 14.63% in March 2022. While the food index inflation eased to 2.32% in March 2023 from 2.76% in February 2023.