WPI inflation hits 4-month high of 14.55% in March as crude, commodity prices spike
Business | April 18, 2022 12:53 ISTWPI Inflation in February was at 13.11 per cent, while in March last year, it was 7.89 per cent.
WPI Inflation in February was at 13.11 per cent, while in March last year, it was 7.89 per cent.
The inflation in the food basket was 7.68 per cent in March, up from 5.85 per cent in the preceding month.
In its earlier policy review in February, the RBI had projected retail inflation to be at 4.5 per cent in 2022-23.
The highest yearly price increase was in the transportation sector, at 99.12 percent, while the increase in food prices was 70.33 percent, according to the data released by the Turkish Statistical Institute.
Attacking the BJP after petrol and diesel prices were increased for the fourth time in five days, the Congress had said that this "shameless fleecing" of the public must stop.
Earlier this week, Congress leader had slammed Central govt over high inflation and reduced rates of fixed deposits and provident fund, and said the common people are facing the consequences of its "wrong policies."
The Fed's quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation that has followed the recovery from the recession. The rate hikes will eventually mean higher loan rates for many consumers and businesses.
Inflation in food articles, however, eased to 8.19 per cent in February from 10.33 per cent. Vegetable inflation was 26.93 per cent in February, against 38.45 per cent in the previous month.
Imran Khan, 69, is heading a coalition government and he can be removed if some of the partners decide to switch sides, which is not unusual in parliamentary democracies.
Robust consumer spending has combined with widespread product and worker shortages to create the highest inflation in four decades.
Addressing an election meeting in Payagpur Vidhan Sabha constituency for party candidate Mukesh Srivastava, Akhilesh Yadav said the BJP government made diesel and petrol so costly that poor people are unable to drive their vehicles.
Electricity will be switched off on a rotating basis between regions between 4:30 pm and 10:30 pm, according to officials. The state-owned Ceylon Electricity Board had requested permission for the cuts as fuel shortages had caused the loss of 541 MW to the national grid.
The RBI takes into account a particular range within which crude prices are expected to fluctuate considering all the factors that can be anticipated and that can be sort of foreseen as of today.
For the 12 months ending in January, inflation amounted to 7.5% — the fastest year-over-year pace since 1982 — the Labor Department said Thursday. Even if you toss out volatile food and energy prices, so-called core inflation jumped 6% over the past year. That was also the sharpest such jump in four decades.
Replying to a general discussion on the Union Budget in Rajya Sabha, the minister said, the Budget for 2022-23 fiscal year, stands for continuity, brings stability to the economy along with predictability of taxation.
The Labor Department said that consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982.
The Labour Department said Thursday that consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982.
As soon as the COVID-19 pandemic broke out in 2020, the government imposed import restrictions to try and stop dwindling of foreign reserves. Sri Lanka currently banks on the Indian economic assistance with credit lines being made available to finance fuel and food imports.
WPI inflation has remained in double digits for the ninth consecutive month beginning April. Inflation in November was 14.23 per cent, while in December 2020 it was 1.95 per cent.
Prices rose sharply in 2021 for cars, gas, food and furniture as part of a rapid recovery from the pandemic recession. Vast infusions of government aid and ultra-low interest rates helped spur demand for goods, while vaccinations gave people confidence to dine out and travel.
Top News
Latest News
