WPI inflation is down to -0.92% in April 2023 from 1.34% in March 2023 Says Raghvendra Nath, Ladderup Wealth Management
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Below View on WPI data By Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited
“WPI inflation is down to -0.92% in April 2023 from 1.34% in March 2023. This is the first time the WPI has slipped into negative territory since July 2020. The fall in WPI inflation can be attributed to fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical and chemical products, rubber and rubber products and paper and paper products. WPI food inflation came down to 0.17% in April from 2.32% in March. The fall in WPI is likely to have a positive impact on retail prices as well in terms of cooling them down as can be seen in the recent CPI figures.”
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