Indian Wholesale inflation soars to 10.49% in April
Published On: Monday, May 17, 2021 | By: Team KnowMyStock
Wholesale inflation in India accelerated to 10.49 percent in April on account of a surge in the prices of fuel and manufactured products, data released by the commerce and industry ministry showed. The wholesale inflation rate, measured by WPI, has been rising continuously since December. It soared to an eight-year high in March to 7.39 percent. The latest price data released by the government today(17th May 2021) showed that food prices rose to 4.92 percent in April, along with a massive price surge in manufacturing products at 9.01 percent. Fuel and power inflation stood at nearly 21 percent led by higher petrol and diesel prices.
Prices of primary articles, which account for more than a fifth of the entire WPI, grew 10.16 per cent in April from -1.08 per cent a year ago, driven by higher prices of fruits, eggs and meat among other items. Prices of pulses, fruits and eggs, meat and fish rose by 10.74 per cent, 27.43 per cent and 10.88 per cent, respectively.
On the other hand, Inflation based on the consumer price index (CPI) moderated to 4.29 per cent in April from a four-month high of 5.52 per cent in March, according to the data released by the Ministry of Statistics and Programme Implementation last week.
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