WPI rises to 1.27% in April, 13-month high

Wholesale price index-based (WPI-based) inflation rose to 1.26 per cent in April, rising from 0.79 per cent in March. The WPI in April was at a 13-month high, official data showed.

A Reuters poll had earlier expected WPI inflation for April at 1 per cent.

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., an official press release said.

Food prices increased 5.52 per cent year-on-year, against a rise of 4.65 per cent in March, while prices of primary articles were up 5.01 per cent against a 4.51 per cent rise in the previous month.

Manufactured product prices declined 0.42 per cent against a 0.85 per cent decrease in the previous month. Fuel and power prices rose 1.38 per cent, as compared to a 0.77 per cent decline in March.

The annual retail inflation rate declined a bit in April, partly because of lower fuel prices, although food prices remained elevated, according to the press release.