Wholesale inflation surges to record high of 15.08% in April

Wholesale inflation in India surged to 15.08 per cent in April from 14.55 per cent in March due to a sharp jump in the prices of fuel, metal, food and non-food articles and chemical products, government data showed on Tuesday.

The Wholesale Price Index (WPI) based inflation has been in the double-digit for the 13 months in a row. The WPI-based inflation stood at 10.74 per cent in April 2021.

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The high rate of inflation in April 2022 was primarily due to a 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, the Ministry of Commerce & Industry said in a statement.

The rate of inflation based on WPI Food Index increased marginally from 8.71 per cent in March, 2022 to 8.88 per cent in April, 2022. The Food Index consisting of `Food Articles` from Primary Articles group and `Food Product` from the Manufactured Products group have increased from 167.3 in March, 2022 to 172.9 in April, 2022.

The index for manufactured products - which accounts for 64.23 percent of the WPI basket - rose 1.7 percent in April from March. In the manufactured products category, the increase in prices is mainly contributed by basic metals, chemicals and chemical products, textiles, machinery and equipment, electrical equipment, and food products.

Some of the groups that have witnessed a decrease in prices are motor vehicles, trailers and semi-trailers, computers, electronic and optical products; leather and related products in April 2022 as compared to March 2022.

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While the Manufacture of beverages remain unchanged in April 2022 as compared to March 2022, data released by the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade, showed.

Prices of mineral oils jumped by 7.58 per cent in April 2022 as compared to March 2022. However, prices of electricity dropped by 9.68 per cent in April 2022 as compared to March 2022.