WPI inflation at record high of 15.08% in April on price rise across all items

Wholesale price-based inflation spiked to a report excessive of 15.08 per cent in April on rising costs throughout segments from meals to commodities.

The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April final yr.

“The excessive fee of inflation in April 2022 was primarily as a result of rise in costs of mineral oils, primary metals, crude petroleum & pure fuel, meals articles, non-food articles, meals merchandise and chemical compounds & chemical merchandise and so forth. as in comparison with the corresponding month of the earlier yr,” the commerce and business ministry stated in a press release.

The WPI inflation has remained in double digit for the thirteenth consecutive month since April final yr.

Know inflation % in meals and different objects: 

Inflation in meals articles was 8.35 per cent, as costs of greens, wheat, fruits and potato witnessed sharp spike over the year-ago interval.

ADVERTISEMENT

Within the gasoline and energy basket, inflation was 38.66 per cent, whereas in manufactured merchandise and oil seeds, it was 10.85 per cent and 16.10 per cent, respectively.

ALSO READ: NCP takes dig at BJP on 8-year excessive retail inflation, says ‘Achhe din time period must be archived’

Inflation in crude petroleum and pure fuel was 69.07 per cent in April.

Knowledge launched final week confirmed that retail inflation rose to a close to 8-year excessive of seven.79 per cent in April, remaining above the Reserve Financial institution’s inflation goal for the fourth straight month.

To tame stubbornly excessive inflation, the RBI earlier this month hiked its key rate of interest by 0.40 per cent and money reserve ratio by 0.50 per cent in a shock transfer.

(With PTI inputs)

ALSO READ: Steps taken by RBI and govt to chop length of excessive inflation: Finmin report

Newest Enterprise Information