- By Aditya Pratap Singh
- Tue, 14 May 2024 12:57 PM (IST)
- Source:PTI
Wholesale Inflation: The rise in fuel and electricity prices as well as food items, especially vegetables, pushed up India's wholesale inflation for the second consecutive month to 1.26 per cent in April. Inflation based on the Wholesale Price Index (WPI) was 0.79 per cent in April last year. In March 2022, it stood at 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.
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According to the data, the inflation rate of food articles increased to 7.74 per cent in April, from 6.88 per cent in March. The inflation rate of vegetables was 23.60 per cent in April, higher than 19.52 per cent in the previous month.
In the fuel and power basket, inflation stood at 1.38 per cent in April, up from (-)0.77 per cent in March. The rise in April WPI is in contrast to this month's retail inflation data. The RBI mainly takes into account retail inflation while formulating monetary policy. Retail inflation fell to a 17-month low of 4.83 per cent in April. The RBI last month kept interest rates unchanged for the seventh straight time and said that it is watchful of the risk of rising food inflation.
(With PTI's Inputs)
