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
The iPhone craze is widespread across the globe. However, the level of passion seen in India is u
Ranbir Kapoor said, Dad had said - don't do a film in which you have to wear dhoti
Ranbir Kapoor's film Shamshera is about to come. He is making funny revelations during the promot
There will be a fourth attempt on February 16 to conduct the election of the mayor of the Municip
India's Foreign Minister S Jaishankar has put a condition on Monday for starting talks with Pakis
20 thousand rupees discount has come directly on this Mi Notebook with super fast speed
Mi Notebook Pro On Amazon: Mi Days is going on on Amazon, in which bumper discounts are being giv
Severe cold will prevail in Delhi, UP and Bihar, IMD has issued a rain alert in 5 states.
The month of November is almost over. Following snowfall in the hilly states, winter has begun to
The Pakistan Cricket Board (PCB) has suspended the No Objection Certificates (NOCs) of its player
Union Home Secretary Ajay Bhalla reviewed the security situation in the Valley after the terroris
After several deaths due to heat waves in the Ballia district of Uttar Pradesh, the central gover
In the fourth match of Pakistan Super League 2024, Quetta Gladiators defeated Lahore Qalandars by
