Wholesale Price Index inflation remains benign: Industry
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
The Wholesale Price Index (WPI), which edged up to 1.26 per cent in April, remains benign and inflation in the food articles is expected to rationalise by September-October, industry bodies said on Tuesday.
According to the Commerce and Industry Ministry, prices of non-food articles (-1.19 per cent) and minerals (-1.55 per cent) declined in April.
Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry, said that supported by negative inflation in the non-food articles and manufactured products, the WPI inflation remains benign.
“Despite the global headwinds, the WPI inflation trajectory in fuel and power also remains low at 1.38 per cent in April 2024. However, the WPI inflation in food articles remained elevated at 7.74 per cent in April, compared with 6.88 per cent in March,” Agrawal informed.
Going ahead, inflation in the food articles is expected to rationalise by September/October 2024 “as many of the kharif crops will be entering the mandis and supplementing the existing supply,” said Agrawal.
The WPI Food Index showed an upward trend with the rate of inflation increasing from 4.65 per cent in March to 5.52 per cent in April.
Meanwhile, the consumer price inflation (CPI) eased to an 11-month low of 4.83 per cent in April.
According to industry watchers, a timely onset and "well distribution" of monsoon would be crucial to help control food inflation in the coming months
