Friday, October 11, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. India's wholesale inflation rises to 13-month high of 1.26 per cent in April

India's wholesale inflation rises to 13-month high of 1.26 per cent in April

Wholesale inflation: In April, India witnessed a further rise in wholesale inflation, primarily driven by increases in food and energy prices.

Edited By: Arushi Jaiswal @JaiswalArushi New Delhi Published on: May 14, 2024 12:58 IST
WPI, Wholesale inflation
Image Source : FILE PHOTO Representative image

Wholesale inflation: India's wholesale inflation in India, based on the Wholesale Price Index (WPI), surged to 1.26 per cent in April on an annual basis, marking a notable increase from the 0.53 per cent recorded in March and reaching a 13-month high, data from the Commerce Ministry on Tuesday showed.

Wholesale inflation saw a second consecutive month of increase in April, driven by higher prices of food articles, particularly vegetables, alongside a rise in fuel and power costs.

Positive rate of inflation due to increase in prices of food articles

The wholesale price index (WPI) based inflation was 0.79 per cent in April last year. In March 2024, it was 0.53 per cent. "Positive rate of inflation in April 2024 is primarily due to increase in prices of food articles, electricity, crude petroleum and natural gas, manufacture of food products, other manufacturing etc," the Ministry of Commerce & Industry said in a statement on Tuesday.

India Tv - Index numbers and inflation rate for the last three months

Image Source : PIBIndex numbers and inflation rate for the last three months

Inflation in food articles rose to 7.74 pc

According to the data, inflation in food articles increased to 7.74 per cent in April from 6.88 per cent in March. Specifically, inflation in vegetables rose to 23.60 per cent in April, up from 19.52 per cent in the previous month.

In the fuel and power category, inflation stood at 1.38 per cent in April, a significant increase from (-)0.77 per cent in March.

The April WPI rise contrasts with the retail inflation data for the same month. The Reserve Bank of India (RBI) primarily considers retail inflation in its monetary policy decisions. Retail inflation decreased to an 11-month low of 4.83 per cent in April.

In its recent announcement, the RBI maintained the interest rate unchanged for the seventh consecutive time, citing vigilance towards potential upward risks to food inflation.

Also Read: Stock markets update: Sensex surges 226 points, Nifty up by 78 points to 22,182 in early trade

Also Read: Govt likely to make anti-fake review rules mandatory for e-commerce firms

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement