WPI inflation hit a record high of 15.08% in April and prices of all commodities rose.

New Delhi: Wholesale price based Inflation Rising prices in all segments, from foodstuffs to commodities, hit a record high of 15.08 per cent in April. WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last year.
“The high inflation rate in April 2022 was mainly due to increase in prices of mineral oil, basic metals, crude petroleum and natural gas, food items, non-food items, food products and chemicals and chemical products. The ministry said in a statement.
This WPI inflation It has been in double digits for the 13th consecutive month since April last year.
Inflation in food items stood at 8.35 per cent as prices of vegetables, wheat, fruits and potatoes rose sharply over the same period a year ago.
Inflation in the fuel and power basket was 38.66 per cent, while in manufactured products and oilseeds it was 10.85 per cent and 16.10 per cent, respectively.
Inflation in crude petroleum and natural gas was 69.07 per cent in April.
Data released last week showed that retail inflation rose to an eight-year high of 7.79 per cent in April, exceeding the Reserve Bank’s inflation target for the fourth consecutive month.
To curb stubbornly high inflation, the RBI earlier this month raised its key interest rate by 0.40 per cent and the cash reserve ratio by 0.50 per cent.


Source link

Leave a Comment