The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 1.26 % (Provisional) for April 2024(over April 2023). The positive rate of inflation in April 2024 is primarily due to an increase in the prices of food articles, electricity, crude petroleum and natural gas, food products, and other manufacturing.
The month-over-month change in the WPI index for the month of April 2024 stood at 0.79 % as compared to Mar 2024. In April last year, the wholesale inflation went into negative territory. Similarly, in the initial days of COVID-19, in July 2020, the WPI was reported negative.
Overall wholesale inflation was 8.39 per cent in October 2022 and has fallen since then. Notably, the wholesale price index (WPI)--based inflation had been in double digits for 18 months in a row till September 2022.
The government releases index numbers of wholesale prices on a monthly basis on the 14th of every month (or the next working day). The index numbers are compiled with data received from institutional sources and selected manufacturing units across the country.
Meanwhile, retail inflation in India eased a tad in March to 4.83 per cent from 4.85 per cent the prior month.