 "At -0.92%, India's wholesale price inflation at its lowest since Aug 2020")
The Wholesale Price Index (WPI)-based inflation in India turned negative in April and was recorded at -0.92 per cent, data released by the Ministry of Commerce and Industry said. In March, the WPI inflation was 1.34 per cent.
This is the lowest WPI inflation has been recorded since August 2020, when it fell to -0.58%
"Decline in the rate of inflation in April 2023 is primarily contributed by fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products and paper & paper product," the ministry said.
The WPI food inflation in April was 0.17 per cent compared to 2.32 per cent in March. At -2.42 per cent, the inflation was lowest in manufactured products. In March, the inflation in this category was -0.77 per cent.
Primary articles and fuel & power categories saw inflation of 1.6 per cent and 0.93 per cent in April, respectively.
"Prices of Crude Petroleum & Natural Gas (3.47 per cent), Minerals (2.30 per cent) and Food Articles (1.45 per cent) increased in April 2023 as compared to March 2023. Prices of Non-food Articles (-0.66 per cent) declined in April 2023 as compared to March 2023," the ministry said.
WPI has been easing for the last 11 months from the 20-year highs of 16.63 per cent recorded in May 2022.