India's wholesale price-based inflation rose to 14.55 per cent in March from 13.11 per cent in February amidst a hike in fuel and food prices.

Rising input costs for products such as fuel, metals and chemicals pushed up wholesale prices, a proxy for producer prices. This is adding to pressure on retail prices, economists said.

Headline retail inflation accelerated to 6.95% in March, its highest in 17 months and above the upper limit of the central bank's tolerance band for a third straight month, putting pressure on the bank to raise interest rates.

Fuel prices were up 34.52% on the year versus 31.50% in February. The food index rose 8.71 per cent in March compared to 8.47 per cent in February.

The core WPI recorded a broad-based and massive 2.2% jump in sequential terms in March 2022, a fallout of the geopolitical tensions, with the inflation rate rising to 10.9%. Only four of the 21 sub-groups of the core index escaped a month on month rise in March 2022, namely beverages, other transport equipment, wearing apparel and pharmaceutical products," Aditi Nayar, chief economist, ICRA, said.
-Economic times/Reuters