WPI Inflation India: WPI inflation at record high of 15.08% in April on price rise across all items | India Business News – Times of India

NEW DELHI: Wholesale price-based inflation spiked to a document 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 12 months.
“The excessive price of inflation in April 2022 was primarily as a result of rise in costs of mineral oils, fundamental metals, crude petroleum & pure gasoline, meals articles, non-food articles, meals merchandise and chemical substances & chemical merchandise and so forth. as in comparison with the corresponding month of the earlier 12 months,” the commerce and trade ministry stated in a press release.
The WPI inflation has remained in double digit for the thirteenth consecutive month since April final 12 months.
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.
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.
Inflation in crude petroleum and pure gasoline was 69.07 per cent in April.
Information 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 hiked its key rate of interest earlier this month by 0.40 per cent and money reserve ratio by 0.50 per cent in a shock transfer.

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