India’s Wholesale Inflation Surges To Record 15.08% In April, Up From 14.55% In Mar
Mumbai: India’s Wholesale Price Index (WPI) surged to a record high of 15.08% in April from 14.55% in March, according to the data released by the commerce ministry. WPI in April 2021 was at 10.74 per cent.
“The higher rate of inflation in April 2022 was mainly due to an increase in prices of mineral oils, base metals, crude petroleum and natural gas, food items, non-food items, food products and chemicals and chemical products etc. As compared to the corresponding month of the previous year,” the Department for Promotion of Industry and Internal Trade (DPIIT) said in a release.
WPI inflation in April is slightly lower than analysts’ estimate of 15.5 per cent. With the latest data, wholesale inflation has remained in the double-digit region for the 13th consecutive month. The month-on-month change in the WPI index for the month of April was 2.08 per cent as compared to March.
Inflation in food articles rose to 8.35 per cent in March from 8.06 per cent in the same period. Besides, fuel and power basket inflation also rose to 38.66 per cent from 34.52 per cent a month ago.
Inflation in manufactured products rose marginally to 10.85 per cent from 10.71 per cent in March.
It may be noted that retail inflation in April reached its highest level since May 2014 at 7.8 per cent.
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