WPI on Record High: The government has suffered a major setback on the wholesale inflation (WPI) front. Wholesale inflation has seen a record breaking pace in the month of April in the country. The wholesale inflation rate has increased to 10.49 per cent in April 2021. It is all time high. Whereas in March it stood at 7.29 percent, which was the highest in 8 years. Let us know that there is a continuous rise in wholesale inflation. Wholesale inflation stood at 4.17 percent in February. At present, inflation has broken all records in April.
The effect of low base also
The Commerce Ministry stated that WPI inflation based on wholesale prices stood at 10.49 per cent in April 2021. This annual inflation rate is higher in April 2021 because the prices of crude oil, mineral oil like petrol and diesel etc. have increased. Similarly, the prices of manufactured products have also increased. Compared to March, prices of primary commodities like metals, crude oil and gas, food items and non-food items have increased 3.83 percent. Inflation has also increased due to low base.
Manufactured products become expensive
Wholesale inflation for manufactured products has gone up from 7.34 per cent in March to 9.01 per cent in April. At the same time, the wholesale inflation of primary articles in April increased to 10.16 percent from 6.40 percent in March.
Fuel and power gain momentum
In April, fuel and power inflation has increased to 20.94 percent from 10.25 percent in March. During this period, the prices of electricity, crude oil, petrol, diesel and cooking gas have increased.
Condition of food and drink
On a monthly basis, food wholesale inflation in April has increased from 5.28 per cent in March to 7.58 per cent. However, inflation in pulses has seen a decline in April and has come down from 13.14 per cent in March to 10.74 per cent. At the same time, egg, meat, fish inflation has increased from 5.38 per cent in March to 10.88 per cent.
Onion inflation was at -9.03 per cent as against 5.15 per cent in March. In April, milk inflation declined to 2.04 percent from 2.65 percent in March. Whereas, the wholesale inflation of vegetables has come down to -9.03 per cent as against 5.19 per cent in March. The wholesale inflation rate of potato has been at -30.44 per cent as against -33.40 per cent in March.
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