India's Wholesale Inflation Rate Rises To 3.18% In April

News World India | 0
| May 14 , 2018 , 14:59 IST

An exponential rise in food and fuel prices lifted India's wholesale inflation rate to 3.18 percent in April from a rise of 2.47 percent in the previous month, official data showed in New Delhi on Monday.

According to the Ministry of Commerce and Industry, last month's rise in WPI inflation rate was slower on a year-on-year (YoY) basis. The rate had increased to 3.85 percent in April 2017.

"The annual rate of inflation, based on monthly WPI, stood at 3.18 percent (provisional) for the month of April 2018 (over April 2017) as compared to 2.47 percent (provisional) for the previous month and 3.85 percent during the corresponding month of the previous year," the ministry said in the review for April 2018.

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On a sequential basis, the expenses during the month under consideration on primary articles, which constitute 22.62 percent of the WPI's total weightage, rose by 1.41 percent, from a marginal rise of 0.24 percent in March 2018.

Among primary articles, food, which has a weightage of 15.26 per cent in the index, edged up last month by 0.87 per cent from a deceleration of (-) 0.29 per cent reported for March.

The cost of fuel and power, which commands a 13.15 percent weightage in the index, increased at a fast pace of 7.85 percent during the month, from a growth of 4.70 percent in March.

Similarly, expenses on manufactured products in the month under review registered a rise. It increased by 3.11 percent, from 3.03 percent in March.

On a YoY basis, onion prices in April 2018 soared higher by 13.62 percent and potatoes by 67.94 percent.

Fuel-wise, prices in April 2018 of both high-speed diesel and petrol climbed higher than in the previous month, by 13.01 percent and 9.45 percent.