WPI Inflation In April Hits 13-Month High Of 1.26 Per Cent

April WPI: In contrast, March saw a WPI of 0.53 per cent, surpassing the predicted 0.20 per cent. January's wholesale index registered at 0.27 per cent

India's Wholesale Price Index (WPI) in April soared to its highest point in 13 months, reaching 1.26 per cent, exceeding the anticipated one per cent mark. In contrast, March saw a WPI of 0.53 per cent, surpassing the predicted 0.20 per cent. January's wholesale index registered at 0.27 per cent.

According to a release by the Ministry of Commerce and Industry, the uptick in inflation in April can be attributed primarily to rising prices in food articles, electricity, crude petroleum and natural gas, as well as the manufacturing of food products and other goods.

"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," Ministry of Commerce & Industry said in a statement on Tuesday.

As per the data, inflation in food articles rose to 7.74 per cent in April as against 6.88 per cent in March. Inflation in vegetables was 23.60 per cent in April, up from 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 the retail inflation data for the month. The RBI mainly takes into account retail inflation while framing monetary policy.

The country's headline retail inflation (CPI) remained steady at 4.83 per cent in April, as per data unveiled by the Ministry of Statistics and Programme Implementation on May 13. Despite a decline to an 11-month low last month, April marks the 55th consecutive month where inflation has surpassed the RBI's medium-term target of four percent. The central bank is actively striving to achieve sustained alignment with this target.