New Delhi: India’s wholesale price based inflation (WPI) rose 1.26 percent in April against 0.53 percent in March. Wholesale inflation was the highest since March 2023, when it hit 1.41%.
Food prices rose 5.52% on-year compared with an increase of 4.65% in March, while prices of primary articles were up 5.01% against a 4.51% rise in the previous month. Manufactured product prices fell 0.42% against a 0.85% drop in the previous month. Fuel and power prices rose 1.38% compared with a 0.77% drop in March.
The prices of crude petroleum and natural gas (3.56%), food articles (2.67%), and mineral oils (0.06%) increased in April 2024 as compared to March 2024. On the other hand, the price of non-food articles (-1.19%), minerals (-1.55%), and electricity (-1.20%) declined in April as compared to the previous month.
In the year-ago period, India’s annual WPI-based inflation declined to a 34-month low of 0.92%, largely due to the base effect, turning negative for the first time since July 2020.
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Meanwhile, India’s Consumer Price Index (CPI) based retail inflation declined to 11-month low in April. As per National Statistical Office (NSO) data, retail inflation eased to 4.83 per cent in April. The Consumer Price Index (CPI) based retail inflation was 4.85 per cent in March. It was 4.7 per cent in April 2023.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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