India's WPI inflation for apparel drops 0.9% in March

India's WPI inflation for apparel drops 0.9% in March

Lastly, dairy product prices fell at the latest GDT auction, dragged lower by an unexpected plunge in anhydrous milk fat.

In contrast, the overall vegetable prices in March deflated (-) 2.70 percent, against a fall of (-) 0.50 percent in the same month a year ago.

On the basis of Wholesale Price Index (WPI), inflation has steadily softened from 2.84 per cent in January to 2.47 per cent the following month.

The data disclosed that prices of food articles dipped by (-) 0.29 percent from an acceleration of 0.88 percent in the previous corresponding month.

Sunil Kumar Sinha, director, India Ratings and Research, said earlier it was the potato and now the tomato is adding distress to farmers. This was mainly driven by the sharp correction in prices of vegetables, he said.

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The median forecast for Brazil's consumer price inflation in the next 12 months increased to 4.02%, from 4.00 last week, according to economists surveyed by the South American country's central bank.

The reduction in pulse prices was pegged at 20.58%, in vegetables at 2.70%, wheat at 1.19 % and egg, meat and fish at 0.82% in March. However, the March 2018 inflation is higher than 3.89 per cent recorded in the same month previous year.

Moreover, the retail inflation eased to 4.28 per cent, a five-month low in March, but remained above RBI's medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.

"During March 2018, the movement in core inflation at the retail and wholesale level has been in opposite direction". The price of petroleum coke (11 per cent) and kerosene (2 per cent) moved up.

Index for "Minerals" group declined by 2.0 percent to 119.7 (provisional) from 122.2 (provisional) for the previous month due to lower price of copper concentrate (14%) and phosphorite (1%).

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