Even on a year-on-year basis, the Wholesale Price Index (WPI) data for March furnished by the Commerce Ministry showed that wholesale prices rose at a faster rate than the rise of 2.74 per cent reported for the corresponding month of 2018.

"The annual rate of inflation, based on monthly WPI, stood at 3.18 per cent (provisional) for the month of March, 2019 (over March, 2018), as compared to 2.93 per cent (provisional) for the previous month and 2.74 per cent during the corresponding month of the previous year," the Ministry said in its review of "Index Numbers of Wholesale Price in India".

"Build up inflation rate in the financial year so far was 3.18 per cent compared to a build up rate of 2.74 per cent in the corresponding period of the previous year," it added.