Rising inflation has made life difficult for people. The wholesale inflation has remained in double digits for the 13th consecutive month due to an increase in the prices of food, fuel, and electricity. The Wholesale Price Index-based (WPI) inflation rate touched 15.08% in April. The wholesale inflation has crossed 15% for the first time since December 1998. It was at 15.32% in December 1998.
Earlier it was at 14.55% in March 2022, while it was at 13.11% in February. The wholesale inflation has remained in double digits since April 2021. According to experts, inflation is increasing due to rising food and fuel prices.
Fuel and energy increased inflation
The inflation rate of food articles has been 8.35% in April, which was 8.06% in March 2022. Inflation in April for crude petroleum and natural gas stood at 69.07%. At the same time, the inflation rate of fuel and power increased to 38.66%, which was 34.52% in March 2022. Inflation in manufacturing products stood at 10.85% in April, from 10.71% in March 2022.
Prices of vegetables, wheat, fruits, and potatoes rose sharply in April on a year-on-year basis, leading to food inflation at 8.35%. In the case of oil and electricity, the inflation rate was 38.66%, while the wholesale inflation rate for manufactured products was 10.85 and for oilseeds was 16.10%.
Retail inflation at 8-year peak
Earlier, retail inflation has reached an 8-year peak due to rising oil prices from food items. According to government data, the Consumer Price Index (CPI) based retail inflation rose to 7.79% in April. Inflation in May 2014 was 8.32%.
How is inflation measured?
There are two types of inflation in India. One is retail, that is, retail and the other is wholesale inflation. The retail inflation rate is based on the prices offered by ordinary customers. It is also called Consumer Price Index (CPI). Whereas, the Wholesale Price Index (WPI) refers to the prices that one trader in the wholesale market charges another trader. These prices are linked to deals done in bulk.
Different items are included to measure both types of inflation. For example, the share of manufactured products in wholesale inflation is 63.75%, primary articles like food 20.02%, and fuel and power 14.23%. At the same time, the share of food and products in retail inflation is 45.86%, housing 10.07%, clothing 6.53%, and other items including fuel also contribute.
Also Read: Inflation is also being affected by domestic development, know what is the opinion of economists
Sharmistha Panoli: 'Basic facilities not being provided in jail', Sharmishtha Panoli moves court; Court summons report
Instagram influencer Sharmistha Panoli's lawyer filed a petition in the Apipur court on Monday. He alleged that Panoli is not being provided basic facilities in the correctional home. His lawyer
PM Modi got emotional about Morbi accident, and said- I have rarely experienced such pain in my life
Prime Minister Narendra Modi attended the National Unity Day Parade at Kevadiya in Gujarat on Monday. During this, PM Modi expressed grief over the Morbi Bridge accident. While getting emotional, PM
Now government employees will be able to participate in RSS programs, The Modi government reversed the 58-year-old order
Government employees will now be able to participate in the activities of Rashtriya Swayamsevak Sangh (RSS). The central government has lifted the ban on the participation of government employees in
IND vs SA: 'I was short of breath...', why did Arshdeep thank KL Rahul after taking five wickets?
India defeated South Africa by eight wickets in the first match of the three-match ODI series. With this victory, he took a 1-0 lead in the series. In this match, Arshdeep Singh took five wickets and
Protesters enter Iraq's parliament: Protest against pro-Iranian PM candidate, a cleric is in command of the movement
Protests against the nomination of a pro-Iranian man as the prime ministerial candidate in Iraq turned violent on Wednesday night. Thousands of protesters crossed the Sensitive Green Zone and marched
Sania Mirza announces retirement: will play last tournament in Dubai next month, has won 6 Grand Slams so far
Six-time Grand Slam winner Sania Mirza announced her retirement from tennis on Saturday. She said in an interview that the WTA 1000 event in Dubai would be her last tournament. Sania won the women's
ITR Last Date: Today is the last date for filing an income tax return; If you miss the date of 31st July then you will get this chance till 31st December
The last date for filing Income Tax Return (ITR) for the financial year 2022-23 is July 31, 2023. If you miss filing ITR even on this day, you can file a belated return till December 31, 2023, with a
Air Pollution: NHRC holds third hearing with states regarding air pollution, gives necessary guidelines
The National Human Rights Commission of India held its third hearing on air pollution in Delhi NCR on Friday. At the same time, seeking further report, the next date of hearing has been fixed for
Maldives: Who will replace the Indian personnel posted in Maldives? This reply came from the Ministry of External Affairs
Days after the second high-level meeting between India and Maldives, New Delhi has confirmed that current personnel in the island country will be replaced with "competent Indian technical personnel".
Team India: Ashish Nehra's statement on Gambhir and Kohli, said this on sharing the dressing room
Former Indian fast bowler Gautam Gambhir has claimed that he does not see any problem between Virat Kohli and Gautam Gambhir. Gambhir will start his tenure as the head coach from the Sri Lanka tour
