According to government data released on Tuesday, wholesale inflation in India increased to 15.08 percent in April from 14.55 percent in March, owing to sharp increases in the prices of fuel, metal, food and non-food articles, and chemical products. The high rate of inflation in April 2022 was primarily due to an increase in the prices of mineral oils, basic metals, crude petroleum & natural gas, food articles, non-food articles, food products, and chemicals & chemical products, among other things, compared to the corresponding month the previous year, according to a statement from the Ministry of Commerce & Industry.
The WPI Food Index-based inflation rate increased marginally from 8.71 percent in March 2022 to 8.88 percent in April 2022. The Food Index, which includes ‘Food Articles’ from the Primary Articles group and ‘Food Products’ from the Manufactured Products group, has risen from 167.3 in March 2022 to 172.9 in April 2022.The manufactured products index, which accounts for 64.23 percent of the WPI basket, increased 1.7 percent in April over March. Basic metals, chemicals and chemical products, textiles, machinery and equipment, electrical equipment, and food products are the main contributors to price increases in the manufactured goods category.
While beverage manufacturing remained unchanged in April 2022 compared to March 2022, according to data released by the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade.
Mineral oil prices increased by 7.58 percent in April 2022 compared to March 2022. However, electricity prices fell by 9.68% in April 2022 compared to March 2022.
