New Delhi, April 15:  The wholesale price inflation rose to an eight-year high of 7.39 percent in March, data released by the government on Thursday showed.

The spike is attributed to the rise in the prices of fuel as well as input costs for manufacturers.

“The prices of crude oil, petroleum products, and basic metal substantially increased in March 2021 as compared to the corresponding month of last year. Also, due to nationwide lockdown, the WPI index for the month of March 2020 (120.4) was computed with a relatively low response rate,” the Ministry of Commerce & Industry said in a statement.

In February, wholesale price index-based inflation was 4.17 percent. The WPI for January was revised to 2.51 percent from 2.03 percent, data released by the Ministry of Commerce & Industry showed.

The WPI in March 2020 was at 0.42 percent.

Food articles saw a 3.24 percent rise in March. In the month prior to that, this was 1.36 percent.

Vegetable prices contracted (-) 5.19 percent in March, against (-) 2.90 percent in February. Pulses prices grew 13.14 percent last month, while that of fruits rose 16.33 percent.

The fuel and power segment rose a sharp 10.25 percent in March with LPG prices jumping by 10.30 percent and petrol gaining by 18.48 percent.

According to another set of data released by the government on Monday, the retail inflation or consumer price index (CPI) rose to a four-month high of 5.2 percent in March. (UNI)