Inflation in food articles stood at 8.35 per cent, as prices of vegetables, wheat, fruits and potatoes saw a sharp rise (Image: Shutterstock)
WPI-based inflation stood at 14.55 per cent in March and 10.74 per cent in April last year. WPI inflation has remained in double digits for the 13th consecutive month since April last year.
- PTI New Delhi
- Last Update:17 May 2022, 12:51 IST
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Wholesale price-based inflation rose to a record high of 15.08 per cent in April, driven by a rise in prices ranging from food to commodities. WPI-based inflation stood at 14.55 per cent in March and 10.74 per cent in April last year.
“The higher rate of inflation in April 2022 was mainly due to increase in prices of mineral oils, base metals, crude petroleum and natural gas, food items, non-food items, food products and chemicals and chemical products etc. same month of last year,” the Ministry of Commerce and Industry said in a statement. WPI inflation has remained in double digits for the 13th consecutive month since April last year.
Inflation in food articles stood at 8.35 per cent, as prices of vegetables, wheat, fruits and potatoes showed a sharp rise compared to a year ago. Inflation in fuel and power basket was 38.66 per cent, while in manufactured products and oilseeds it was 10.85 per cent and 16.10 per cent respectively.
Inflation in crude petroleum and natural gas stood at 69.07 per cent in April. Data released last week showed that retail inflation rose to an 8-year high of 7.79 per cent in April, staying above the Reserve Bank’s inflation target for the fourth consecutive month.
In a bid to beat extreme inflation, the RBI earlier this month raised its key interest rate by an astonishing 0.40 per cent and cash reserve ratio by 0.50 per cent.
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