CPI - Base Effect Drives Inflation Higher In March: ICICI Direct 
A vendor holds Indian rupee notes at his vegetable stall at the cotton and vegetable wholesale market in Nagpur, India. (Photographer Dhiraj Singh/Bloomberg)

CPI - Base Effect Drives Inflation Higher In March: ICICI Direct 


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ICICI Direct Report

Consumer Price Index inflation rose to 5.45% in March 2021 compared to 5.03% in February 2021 due to a rise in few food items and a secular rise in non-food items.

The unfavourable base effect also contributed to the rise in inflation data print.

The rise in inflation was primarily driven by food items like meat and fish, oils and fats pulses and non-alcoholic beverages.

In non-food items, almost all items witnessed a marginal rise in data print except personal care and effects (gold prices).

Food inflation rose to 4.94% in March against 3.87% in February.

Click on the attachment to read the full report:

ICICI Direct CPI Inflation Update.pdf


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