According to the ministry of commerce and industry, India’s annual rate of inflation based on the all-India wholesale pricing index (WPI) decreased further to 1.34 percent (provisional) for the month of March 2023 (over March 2022), down from the 3.85 percent reported in February 2023.
When compared to February 2023, the WPI index’s month-over-month change in March 2023 is unchanged.
According to the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), which is part of the Ministry of Commerce and Industry, “Decline in the rate of inflation in March 2023 is primarily contributed by fall in prices of basic metals, food products, textiles, non-food articles, minerals, rubber and plastic products, crude petroleum and natural gas, and paper and paper products.”
