Inflation at record level after 24 years: Wholesale inflation crossed 15% for the first time since 1998; Petrol and diesel set fire in prices


Posted on 17th May 2022 02:59 pm by rohit kumar

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

1 Like 0 Dislike
Previous news Next news
Other news

Today, for the first time, PM Modi will present the National Creators Award, and 23 winners including three international ones will be honored.

Prime Minister Narendra Modi will present the National Creators Award for the first time on Frida

Difficult to get a chance for Umran Malik: Know what could be India's probable playing XI against South Africa

When Team India goes to play the 5-match home T20 series against South Africa, it will be seen in

Corona Update: 18,375 new cases in the last 24 hours; Newly infected in Kerala decreased by 11%, but recorded the highest number of deaths

There is a slight decrease in the cases of corona since the last day. On Thursday, 18,375 new cas

Chemical attack on girl students in Iran: Hundreds were poisoned to prevent them from studying, mothers protested, pulled them by hair, arrested

Some videos of Iran are going viral on social media. In these, police are seen arresting women by

Russia-Ukraine war: Russia fired 14 missiles at Kyiv ahead of the G-7 summit, increasing Russian military presence in Belarus

The war between Russia and Ukraine has entered its fifth month. Russia is constantly attacking Uk

When China changed the names of areas of Arunachal, Assam CM got angry, and made this demand from the Central Government regarding Tibet

Assam Chief Minister Himanta Biswa Sarma on Tuesday urged the Indian government to adopt a "tit-f

Ayodhya Ram Mandir: New priests assigned duty, use of smartphones banned; dress code will also be implemented

New priests have been put on duty in Ram Mandir. Many tough rules have also been made for the pri

Autorickshaw Explodes: Mangaluru blast suspect identified, accused already booked under UAPA

A moving autorickshaw exploded in Karnataka's Mangaluru on Saturday, causing fire and heavy smoke

Supreme Court: Petition to declare cow as national animal dismissed, Supreme Court reprimanded the petitioner

The Supreme Court on Monday refused to hear a plea seeking a direction to the Center to declare c

Stampede in Khatushyam, death of 3 women: People were in line since night for darshan, a stampede broke out as soon as the doors opened on Ekadashi

A stampede broke out at Khatushyam temple in Sikar, Rajasthan on Monday morning. 3 women died in

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash