Wholesale Inflation stands at 2.47% in March; manufacturing index rises

Mae Love
April 16, 2018

Inflation based on wholesale prices eased to an eight-month low of 2.47 per cent in March on cheaper food articles, including pulses, vegetables and eggs.

New Zealand's annual pace of inflation probably slowed in the first three months of the year as the government's "fees free" tertiary education policy comes into effect, removing price pressures in the sector. The index for "Manufacture of Wearing Apparel" sub-group declined by 0.9 per cent to 137.8 from 139.0 for the previous month due to lower price of woven apparel, except fur apparel, and knitted and crocheted apparel (1 per cent each).

Food and beverage prices were 0.9 per cent up, on an annual basis, while the price of utilities and housing has increased by 4.6 per cent and transportation costs were 0.7 per cent higher compared to a year earlier.

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. "We expect the average WPI inflation to rise to around 3.9 per cent in 2018-19 from 2.9 per cent in 2017-18", Nayar said.

The index for fuel and power declined by 0.1 per cent to 98 (provisional) from 98.1 (provisional) in February.

BOA reports higher earnings in its first quarter
Moreover, Amica Mutual Ins Communication has 0.91% invested in Bank of America Corporation (NYSE:BAC) for 312,335 shares. The ratio increased due to BAC positioning: 66 sold and 561 reduced. 134 funds opened positions while 676 raised stakes.

Man City players party after title win
Only Sir Alex Ferguson and Jose Mourinho have managed to do that so far and in recent years follow ups have proved very hard . Mary's on Saturday, Southampton looked set to move out of the bottom three thanks to a first home league win since November.

Samsung Introduces an Exclusive Smartphone for the Students
Expect plenty more Note 9 rumours and leaks to be revealed in the coming weeks but it looks set to be one to watch out for . The rumor mill claims Galaxy Note 9 would feature a 6.38-inch Super AMOLED Infinity display with an 18.5:9 aspect ratio.

Product-wise, the price of high-speed diesel rose by 6.12 per cent during March while that of petrol climbed by 2.55 per cent and for LPG by (-) 9.08 per cent. It revised downwards forecast for retail inflation to 4.7-5.1 per cent for April-September and 4.4 per cent for October-March.

As per CSO data, inflation in the vegetables segment cooled to 11.7 per cent in March from 17.57 per cent in the previous month. The movement in core inflation at the retail and wholesale level were in the opposite direction in March 2018.

The inflation based on Consumer Price Index (CPI), a key data factored in by the RBI to arrive at interest rate, was 4.44 per cent in February. "Inflation in the food article category which has been declining since November 2017 turned into deflation in March 2018 mainly driven by the sharp correction in the prices of fruits and vegetable".

The reproduction of the story/photograph in any form will be liable for legal action.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER