WPI Inflation At Record High Of 15.08 Per Cent In April, In Double-Digits For 13th Straight Month

Rising prices across segments, from food to commodities, pushed up wholesale price-based (WPI) inflation in April

Inflation in food items was 8.35 per cent, as rates of vegetables, wheat, fruits, and potato saw sharp spike over the year-ago period. Image: Getty

Source : Getty

New Delhi: Surging prices across segments, from food to commodities, pushed up wholesale price-based (WPI) inflation in April to a new high of 15.08 per cent, the PTI reported.

In March, the WPI-based inflation was 14.55 per cent, while in 10.74 per cent in April last year.

This is for the 13^th consecutive month since April last year that the WPI inflation has stayed in double digit.

According to a statement by the commerce and industry ministry, “The high rate of inflation in April 2022 was primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, food articles, non-food articles, food products and chemicals & chemical products etc. as compared to the corresponding month of the previous year.”

Inflation in food items was 8.35 per cent, as rates of vegetables, wheat, fruits, and potato saw sharp spike over the year-ago period.

The inflation in the fuel and power basket was 38.66 per cent. In the manufacturing sector and oil seeds, the inflation was 10.85 per cent and 16.10 per cent, respectively.

While in crude petroleum and natural gas, inflation recorded at 69.07 per cent in April.

According to last week’s data on retail inflation, which showed that retail inflation rose to a near 8-year high of 7.79 per cent in April, remained above the Reserve Bank of India’s (RBI’s) inflation target for the fourth straight month.

Early this month, the central bank raised its key interest rate by 0.40 per cent and cash reserve ratio (CRR) by 0.50 per cent to tame the high rates of inflation.