Wholesale inflation surged to 1.26% in April, marking a notable increase driven by rising prices of essential commodities such as food articles and fuel.
The Wholesale Price Index (WPI) inflation, which stood at 0.79% in April last year, has steadily risen from 0.53% in March 2024.
The Ministry of Commerce & Industry attributed the positive inflation rate to hikes in prices across various sectors including food articles, electricity, crude petroleum, natural gas, and manufacturing of food products.
Data reveals a significant uptick in inflation within the food articles category, soaring to 7.74% in April compared to 6.88% in March.
Particularly, inflation in vegetables witnessed a sharp rise to 23.60% in April, up from 19.52% in the previous month.
In the fuel and power segment, inflation stood at 1.38% in April, showing a notable increase from (-)0.77% in March.
This increase in WPI contrasts with the retail inflation data for April, where the Reserve Bank of India (RBI) primarily focuses on retail inflation while framing monetary policy. Retail inflation decreased to an 11-month low of 4.83% in April.
In its recent monetary policy announcement, the RBI maintained the interest rate for the seventh consecutive time, emphasizing its vigilance towards potential upward risks to food inflation.
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