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Wholesale Price Inflation goes up

Country’s WPI moved up after staying in negative zone for 17 months

Policy Pulse
Publish Date: May 16 2016 3:14PM | Updated Date: May 16 2016 3:14PM

Wholesale Price Inflation goes up

India's annual wholesale price inflation moved up into the positive zone in the month of April. It was 0.85 percent in March and in April reaches up to 2.43 percent showed official data released by commerce and industry ministry on Monday. 

 
It moved up after staying in negative zone for 17 months .The wholesale index of primary articles rose 2.34 percent, the manufactured product index rose 0.71 percent, while fuels fell by 4.83 percent. 
 
Food inflation also jumped to 4.23 percent as compared to 3.73 percent in March, due to higher prices of tea, pulses, poultry and fruits and vegetables. Mineral prices were down by 27.2 percent.
 
However, onion and fruits saw further easing of prices, with these sub-indices falling 18.18% and 2.38%, respectively.
 
India's consumer price index (CPI), or retail, inflation climbed to 5.39 percent in April from 4.83 percent in March.
 
This, coupled with a delay in monsoon, reduces chances of the Reserve Bank of India cutting interest rates, at least in its forthcoming monetary policy review due early next month.