Economy
India's Wholesale Price Inflation Turns Negative For The First Time In Three Years In April
Swarajya Staff
May 15, 2023, 02:17 PM | Updated May 16, 2023, 11:11 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
In April, India's wholesale-price base inflation (WPI) turned negative after almost three years, owing to a decrease in overall prices.
The Ministry of Commerce and Industry reported a fall of -0.92 per cent in WPI inflation, a significant drop from the preceding month's 1.34 per cent rise and last year's 15.38 per cent surge.
This is the first negative WPI inflation since July 2020. WPI inflation in the country has been consistently decreasing for 11 months since reaching a 20-year high of 16.63 per cent in May 2022.
Food inflation decreased from 5.48 per cent in March to 3.54 per cent in April, while fuel and power index surged from 8.96 per cent to 0.93 per cent.
The inflation rate of manufactured goods was -2.42 per cent, down from 0.77 per cent in March.
In April, the Commerce Ministry reported a decline in inflation rate caused by the decrease in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical and chemical products, rubber and plastic products, and paper and paper products.
India's retail inflation in April was within the Reserve Bank of India's tolerance range, at an 18-month low of 4.7 per cent.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.