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
Rahul Gandhi's statement has come to the fore in the war of words between Chief Minister Ashok Ge
A new and shocking update has emerged in the case of the knife attack on actor Saif Ali Khan. Aft
In 2020, Indian expatriates were sending money home in record amounts. In that year, migrants sen
Team India New Coach: Khalid Jamil becomes the new coach of the Indian football team, AIFF announced
The All India Football Federation (AIFF) has appointed Khalid Jamil as the new coach of the India
Serial blasts in Afghanistan: Continuous blasts near Mazar-e-Sharif in Kabul; 16 killed, 22 injured
Four explosions occurred one after the other late Wednesday evening in Kabul, the capital of Afgh
Delhi Chief Minister Arvind Kejriwal on Wednesday said that education is necessary for every chil
Amid uproar by the opposition in the Karnataka Assembly, the bill providing 4% reservation for mi
Garib Kalyan Sammelan will be held today at Ridge Maidan in Shimla to commemorate the completion
Kolkata Knight Riders defeated Gujarat Titans by three wickets at the Narendra Modi Stadium in Ah
Panchayat is such a web series on Amazon Prime that no matter how many seasons are released, the
