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India's wholesale inflation grew 2.47 percent in March as prices of vegetables and other food and beverages softened, latest price data released by the commerce and industry ministry showed.
Wholesale inflation rate, measured by Wholesale Price Index (WPI), is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.
WPI witnessed a growth of 2.48 percent in February. Also, January WPI inflation has been revised to 3.02 percent from 2.84 percent.
Index for in primary articles inflation, which account for more than a fifth of the entire wholesale price index, declined by 0.5 percent in March from 0.79 percent in February.
Index for prices of vegetables fell 2.7 percent.
The index for non-food articles group declined by 0.3 percent to 120.2 (provisional) from 120.6 (provisional) due to lower price of guar seed, niger seed, floriculture, raw cotton, cotton seed, skins (raw) and gingelly seed, etc.
Prices of pulses continued to slump with the inflation falling at 20.58 percent in March compared to fall of 24.51 percent in February.
Fuel and power inflation, which has a weightage of 13.15 percent in WPI, declined by 0.1 percent in March, month-on-month.