On Tuesday, May 14, the Indian government unveiled the wholesale price index (WPI) data for April. April’s WPI hit a 13-month peak at 1.26%, surpassing the anticipated 1% mark.
The YoY WPI inflation rate for all commodities in India stood at 1.26% in April, surpassing the expected rate of 1.00% and showing a notable rise from the previous month’s figure of 0.53%.
India’s Wholesale Price Index (WPI) for Fuel on a Year-on-Year (YoY) basis in April was recorded at 1.38%, marking an increase from the previous month’s figure of -0.77%.
In April, India’s WPI for Manufacturing Inflation on a YoY basis was -0.42%, indicating a decrease from the previous month’s rate of -0.85%.
India’s Year-over-Year (YoY) Food Wholesale Price Index (WPI) for April rose to 7.74%, up from the previous 6.88%.
Various polls had projected the WPI within a range of 0.8% to 1.1%.
March’s WPI registered at 0.53%, contrasting with February’s 0.20%.
January saw the WPI standing at 0.27%.
In the corresponding period last year, India’s yearly WPI-based inflation dropped to a 34-month low of 0.92%, primarily due to the base effect, marking its first negative reading since July 2020.
The Wholesale Price Index (WPI) gauges the fluctuation in prices of goods traded in bulk among wholesale businesses.
Unlike the Consumer Price Index (CPI), which monitors prices of goods and services bought by consumers, the WPI monitors factory gate prices prior to retail prices.
