India's wholesale price inflation at 15.08% in April as food prices rise
19 May 2022
The annual rate of inflation based on the wholesale price index stood at 15.08 per cent in April 2022 compared to 10.74 per cent in April 2021, provisional estimates released by the Department for Promotion of Industry and Internal Trade on Wednesday showed.
The high rate of inflation was due to rise in prices of mineral oils, basic metals, petroleum and natural gas, chemicals, food and non-food products.
The rate of inflation based on WPI Food Index increased marginally from 8.71 per cent in March 2022 to 8.88 per cent in April. The high rate of inflation in April was primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, food articles, non-food articles, food products and chemicals and chemical products etc as compared to the corresponding month of the previous year.
Inflation rate for the `Primary Articles’ group, which has a weight of 22.62 per cent in the wholesale price index, increased by 2.70 per cent in April 2022 as prices of food articles (3.61 per cent), non-food articles (1.20 per cent), crude petroleum and natural gas (0.59 per cent) and minerals (0.13 per cent) increased in April 2022 as compared to March.
Inflation rate for the `Fuel & Power’ (weight of 13.15 per cent) increased by 2.79 per cent for March 2022. Prices of mineral oils (7.58 per cent) increased in April 2022 compared to March 2022. Prices of electricity (-9.68 per cent) declined in April 2022 compared to March 2022.
Inflation rate for the `Manufactured Products’ group (weight of 64.23 per cent) increased by 1.69 per cent in April 2022. Out of the 22 NIC two-digit groups for manufactured products, 18 groups have witnessed increase in prices while three groups have witnessed decrease in prices. The increase in prices was mainly contributed by basic metals, chemicals and chemical products, textiles, machinery and equipment, electrical equipment, and food products.
Some of the groups that have witnessed decrease in prices in April 2022 are motor vehicles, trailers and semi-trailers, computer, electronic and optical products; leather and related products. Prices of beverages remained unchanged in April 2022 compared to March 2022.
The WPI Food Index (weight of 24.38 per cent) consisting of 'Food Articles' from Primary Articles group and 'Food Product' from the Manufactured Products group increased to 8.88 per cent in April 2022 from 8.71 per cent in March.
The final rate of inflation for the month of February 2022, based on the final Wholesale Price Index for 'All Commodities' (Base: 2011-12=100) stood at13.43 per cent.