WPI inflation slides to 3.07% in April on cheaper fuel, manufactured items
-The Hindu Business Line
But food prices rise to 33-month high of 7.37%
New Delhi: Wholesale Price Index (WPI)-based inflation for April eased to 3.07 per cent, from 3.62 per cent in the same month last year.
The latest WPI print was also lower than 3.18 per cent recorded in March this year. Build up inflation for the financial year so far was 0.75 per cent, lower than 0.86 per cent in the corresponding period of the previous year.
The overall WPI print for April was dragged down by a sharp decline in manufactured products (which accounts for two-third weightage in the WPI basket), which came in at a 30-month low of 1.7 per cent (2.16 per cent in March 2019).
In addition, owing to a high base effect, the deflation in crude petroleum (under the primary articles) also pulled down the overall WPI.
However, the fall in prices of manufactured products was off set by the rise in food articles to 33-month high of 7.37 per cent and non-food articles at five-month high of 5.23 per cent.
After seeing contractionary patterns in food articles during August 2018 to December 2018, the WPI of food articles has seen a sustained increase in the previous four months.
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