India's WPI inflation rises to 10.49% in April
Business | May 17, 2021 13:00 ISTIndia's annual rate of inflation based on wholesale prices sequentially rose to 10.49 per cent in April from a rise of 7.39 per cent in March.
India's annual rate of inflation based on wholesale prices sequentially rose to 10.49 per cent in April from a rise of 7.39 per cent in March.
The government on Tuesday informed Parliament that inflation has remained low in the last seven years - except for a spike in some items - and the government is taking steps to bring it further down.
The WPI inflation was 2.03 per cent in January and 2.26 per cent in February last year.
There was a huge commotion outside the Punjab Assembly today. Akali Dal leaders protested against farm laws and inflation.
The wholesale price-based inflation rose to 2.03 percent in January 2021, even as food prices cooled.
The Reserve Bank has lowered the retail inflation projection for the current quarter of this fiscal at 5.2 per cent, saying it has returned within the "tolerance band".
The inflation is rapidly growing in Pakistan and Prime Minister Imran Khan is finding no solution as to how to overcome this solution. Watch this political satire.
Under the current dispensation, the RBI has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side.
After potato and onion, the price of edible oil has now gone up in the national capital due to a sharp increase in the cost of oilseeds. There has been a 53 per cent hike in the crude palm oil (CPO) prices in the domestic futures market, in the past six months due to a decline in palm oil production in Malaysia.
Consumers in the national capital are being adversely affected due to an increase in the price of vegetables. Meanwhile, the inflation has also reduced the sales made by vendors.
The wholesale price-based inflation declined 0.58 per cent in July, even as food items turned costlier. WPI inflation in June was at (-) 1.81 per cent, while for the month of May and April it was (-) 3.37 per cent and (-) 1.57 per cent respectively.
The Reserve Bank of India (RBI) on Thursday said inflation is expected to be at elevated levels during the second quarter, but may ease in the second half of the current fiscal year.
Inflation in food articles during June stood at 2.04 per cent, as against 1.13 per cent in May. In fuel and power basket, deflation stood at 13.60 per cent in June, against 19.83 per cent in the previous month.
Wholesale price index (WPI) inflation has declined by 3.21 per cent in May against a rise of 2.79 per cent in the year-ago period. The wholesale prices witnessed deflation due to sharp decline in prices of fuel and power, even as food articles turned expensive.
For Pakistans residents, fiscal year 2020 was the worst year as they witnessed highest inflation in the world forcing policy makers to increase interest rate, according to the State Bank of Pakistan (SBP).
India's annual inflation rate based on wholesale prices eased to 1 per cent in March from a rise of 2.26 per cent in February, official data showed on Wednesday. The fall in March has largely been on account of a sharp fall in food prices in the country. Food inflation in March fell to 4.91 per cent from 7.79 per cent in the previous month.
Retail inflation is on course to fall below 6 per cent in March and close to 5 per cent by August, helping the central bank navigate the coronavirus pandemic with lower interest rates, say SBI analysts.
Wholesale prices-based inflation accelerated to a 10-month high of 3.10 per cent in January mainly due to costlier food articles, particulary onion and potato, official data showed on Friday.
On a sequential basis, the expenses on manufactured products category, which constitute over 64 per cent of the WPI's total weightage, increased to 0.34 per cent from (-)0.25 per cent.
The data released shows that higher food prices, particularly of wheat and flour, pulses, sugar, jaggery and edible oil, have been the largest driver of overall inflation in January.
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