April marks the sixth successive month that the Wholesale Price Index has risen on a year-on-year basis. Representational file image.
| Photo Credit: SUSHIL KUMAR VERMA
Inflation in India’s wholesale prices rose to a 12-month high of 1.26% in April, from 0.53% in March, owing to an uptick in food inflation and a 1.4% year-on-year rise in fuel and power prices after several months of deflation.
The Wholesale Food Index rose 5.5%, compared with 4.65% in March, while the decline in manufactured products’ prices eased to 0.4% in April from 0.8% in the previous month. Inflation in primary articles also moved up from 4.5% in March to 5% last month, indicating a broad-based reversal of wholesale price trends.
Also read | Food inflation scaled 4-month peak of 8.7% in April
April marks the sixth successive month that the Wholesale Price Index (WPI) has risen on a year-on-year basis, after seven months of deflation. On a month-on-month basis, the WPI was up 0.8% with primary articles and food prices rising nearly 2% in April, while manufactured products were up 0.5%.
“Positive rate of inflation in April, 2024 is primarily due to increase in prices of food articles, electricity, crude petroleum & natural gas, manufacture of food products, other manufacturing, etc.”, the Commerce and Industry Ministry said.
Potatoes, onions report sharp inflation
Potatoes and onions reported a sharp surge in inflation, hitting 72% and 59.8%, respectively, from 53% and 57% in March. Paddy inflation also gained momentum, rising over 12%, while price rise in eggs, meat and fish stood at 0.9% compared with a 1.86% decline in prices March. At the retail level, eggs inflation was 7.1% while meat and fish prices had raced past 8% in April.
The rise in wheat and milk prices, however, eased a little to 5.7% and 4.3%, respectively, while fruit prices were down 1.8% from last April.
