Which of the following statements is/are correct with reference to the Wholesale Price Index?

Which of the following statements is/are correct with reference to the Wholesale Price Index?

A. Wholesale-level inflation measured by the shot up to 7.39 per cent in March on a year-on-year basis.

B. The surge in March was also aided by a low base in the corresponding month of 2020.

C. Both A & B

D. None of these

Explanation:

Wholesale-level inflation measured by the Wholesale Price Index (WPI) shot up to 7.39 per cent in March on a year-on-year basis. This is the highest wholesale inflation rate since October 2012, and was driven largely by higher prices of crude oil and a surge in price levels of food items such as pulses and fruits. The surge in March was also aided by a low base in the corresponding month of 2020.