April wholesale inflation surges to 15.08%, up from 14.55% in March

Wholesale prices rose 15.08% in April from a year earlier, data released by the Commerce Ministry showed Tuesday.
Rising consumer inflation has increased the cost of living for average Indians, who are paying higher prices for a range of commodities, from fuel, electronics and transport to basic food items. (REUTERS File Photo)
Rising consumer inflation has increased the cost of living for average Indians, who are paying higher prices for a range of commodities, from fuel, electronics and transport to basic food items. (REUTERS File Photo)
Published on May 17, 2022 12:30 PM IST
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Bloomberg |

India’s wholesale inflation soared to a three decade high in April as high commodity prices and supply-chain disruptions pushed up input cost for producers.

Wholesale prices rose 15.08% in April from a year earlier, data released by the Commerce Ministry showed Tuesday. That is higher than the median estimate of a 14.92% gain in a Bloomberg survey of 14 economists. The WPI rose to the highest levels in September 1991 when the print came in at 16.31%.

Figures last week showed retail inflation for the same month jumped to an eight-year high. The Reserve Bank of India announced a surprise rate hike earlier this month to tame price-growth that’s already breached its 6% upper tolerance limit this year. In the next monetary policy due June, it is expected to raise rates further and also revise its 5.7% inflation forecast.

According to Tuesday’s release, Prices of food articles rose almost 8.35% while fuel and power prices jumped 38.66%.

 

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