Wholesale inflation rises to 10.5% in April
May 17, 2021
Inflation for crude petroleum and natural gas, and mineral oils surges during the month
Wholesale inflation surged to double digit at 10.5 per cent in April. This is quiet contrary to retail inflation which dropped to 4.29 per cent in April, which is three months low. Experts feel that with latest number, possibility of any interest rate cut by Monetary Policy Committee (MPC) has waned further. Wholesale rate of inflation was 7.39 per cent in March and negative 1.57 per cent in April last year.
“The annual rate of inflation in April 2021 is high primarily because of 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,” a statement by the Commerce & Industry Ministry said on Monday. Wholesale inflation, based on Wholesale Price Index (WPI), is also known as factory or producers’ inflation. It shows prices of p
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