India’s wholesale inflation hit a 13-month high in April
The HinduInflation in India’s wholesale prices rose to a 13-month high of 1.26% in April, from 0.53% in March, owing to an uptick in food inflation and a 1.4% year-on-year rise in fuel and power prices after several months of deflation. The price rise in primary food articles picked up from 6.88% in March to a four-month high of 7.74% in April, despite a slight easing in cereals and pulses inflation which stood at 8.7% and 16.6%, respectively, as vegetables inflation spurted to 23.6% from 19.5% in March. Paddy inflation also gained momentum, rising over 12%, while price rise in eggs, meat and fish stood at 0.9% compared with a 1.86% decline in prices in March. The Wholesale Food Index rose 5.5%, compared with 4.65% in March, while the decline in manufactured products’ prices eased to 0.4% in April from 0.8% in the previous month.