The Ministry of Commerce and Industry has released the data on India’s Inflation based on the Wholesale Price Index (WPI) for April 2022. The data shows that the WPI Inflation was 15.08% in the month of April. The WPI inflation recorded in April 2022 was the highest in 9 years in the 2011-12 series. It has remained double-digit for the 13th consecutive month.
The high rate of inflation in April 2022 was primarily due to the rise in prices of:
- Mineral oil
- Basic metals
- Crude petroleum & natural gas
- Food articles, non-food articles
- Food products
- Chemicals & chemical products
Month over Month Change in Major Groups of WPI:
Primary Articles
The index for Primary Articles increased by 2.70% in April 2022. Prices of Food Articles, Non-food Articles, Crude Petroleum & Natural Gas, and Minerals increased in April 2022 as compared to March 2022.
Fuel & Power
The index for this major group increased by 2.79%. Prices of Mineral Oils increased, while prices of Electricity declined in April 2022 as compared to March 2022.
Manufactured Products
The index for Manufactured Products increased by 1.69%. Prices of Mineral Oils increased, while prices of Electricity declined in April 2022 as compared to March 2022. The groups that have witnessed an increase include basic metals, chemicals, and chemical products, textiles, machinery and equipment, electrical equipment, and food products. Prices of motor vehicles, trailers and semi-trailers, computers, electronic and optical products; leather, and related products decreased in April 2022 as compared to March 2022. While the Manufacture of beverages remained unchanged.
Sources:
- Index Numbers of Wholesale Price in India for the Month of April 2022
- WPI inflation jumps to highest in 31 years at 15.1%, RBI may further increase interest rates
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