WPI soars to 10.5% in April

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Inflation in wholesale prices soared to 10.5% in April, from 7.4% in March and 4.8% recorded in February, as per the Wholesale Price Index (WPI).

The high inflation rate for April is "primarily because of rise in prices of crude petroleum, petrol, diesel etc, and manufactured products as compared to the corresponding month of the previous year," the Department for Promotion of Industry and Internal Trade said.

Wholesale food prices also hardened to record 7.6% inflation in April from 3.6% in February and 5.3% in March.

Retail inflation for April had moderated to a three-month low of 4.29% from over 5.5% in March, helped by cooling food prices, but economists had expected the WPI to harden during the month due to cost-push pressures from rising commodity and fuel prices.

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Printable version | Jun 13, 2021 10:54:25 PM |

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