WPI inflation hits all-time high of 10.49% in April
Wholesale Price Inflation (WPI) climbed to an all-time high of 10.49 per cent in April 2021 on YoY basis, primarily due to a rise in prices of crude petroleum, mineral oils, the commerce ministry data shows.
On a month-on-month basis, WPI inflation saw a 3.1 per cent rise as compared to 7.39 per cent in March. The wholesale inflation was 4.17 per cent in February. For January, the WPI inflation rate stood at 2.51 per cent.
“In April, 2021 (over April 2020), the annual rate of inflation (YoY), based on monthly WPI, stood at 10.49 per cent (provisional). The annual rate of inflation in April 2021 is high primarily because of the rise in prices of crude petroleum, mineral oils viz petrol, diesel etc, and manufactured products as compared to the corresponding month of the previous year,” the ministry said on Monday.
Inflation for primary articles (minerals, crude oil and gas, food articles, and non-food articles) rose 3.83 per cent in April over March, while fuel and power saw the inflation index declining by 1 per cent in April over March. Coal prices increased 0.32 per cent in April compared to March and minerals saw 0.29 per cent rise in prices.
The inflation index for manufactured products rose 1.65 per cent in April compared to March. Out of the 22 NIC two-digit groups for manufactured products, 20 witnessed increase in prices on the inflation index. The rate of inflation based on WPI Food Index increased from 5.28 per cent in March to 7.58 per cent in April.
As per the ministry, the WPI for March 2021 has been compiled at a weighted response rate of 76 per cent, while the final figure for February 2021 is based on the weighted response rate of 91 per cent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI, it added.
Meanwhile, India’s Consumer Price Index (CPI) based retail inflation eased to 4.29% in the month of April, primarily due to reduction in food prices, the data released by the Ministry of Statistics & Programme Implementation (MoSPI) on May 12 showed. It stood at 5.52 per cent in March.