Wholesale inflation hits a record 10.49% in April thanks to higher fuel and electricity prices

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Wholesale food prices also registered an increase of 7.58 percent from 5.28 percent in March.

Wholesale price-based inflation (WPI) accelerated to 10.49 percent in April from 7.39 percent the previous month due to rising fuel and electricity prices. The fuel and electricity price index jumped to 20.94%, against an increase of 10.25% the previous month.

The highest weight manufactures in the overall WPI index rose to 9.01 percent from 7.34 percent in the previous month.

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Primary item inflation, which weighs 22.62% in the index, rose to 10.14% from 6.40% in March, according to government data.

Wholesale food prices also registered an increase of 7.58 percent from 5.28 percent in March.

“The annual inflation rate in April 2021 is high mainly due to higher prices of crude oil, mineral oils, namely gasoline, diesel, etc., and manufactured goods compared to the corresponding month of the previous year, “said the Ministry of Commerce and Industry. in a press release.

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Reserve Bank of India Governor Shaktikanta Das previously said PMI in manufacturing and services, as well as rising WPI inflation, showed continued pressure on input prices.

“The trajectory of inflation over the rest of the year will be shaped by COVID-19 infections and the impact of localized containment measures on supply chains and logistics,” he added.

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