Retail inflation inches up to 4.58% in April

Share

A vendor loads tomatoes in a bag for a customer at a wholesale vegetable market in Mumbai, March 14, 2018.

Accordingly, India's wholesale inflation rate rose to 3.18 per cent in April from an increase of 2.47 per cent in the previous month, the data furnished by the Ministry of Commerce and Industry showed on Monday afternoon. Those expectations got a boost after central bank deputy governor in charge of monetary policy, Viral Acharya, said he would vote for a withdrawal in monetary accommodation in June, citing sticky core inflation.

Food inflation came came at 0.87% in April against 0.29% lower in the previous month.

Similarly, the inflation in the fruit basket was higher at 9.65% compared to 5.78% in the previous month. The index for "Manufacture of Wearing Apparel" sub-group rose by 1.1 per cent to 139.3 from 137.8 for the previous month due to higher price of woven apparel, except fur apparel (1 per cent). March's data is an indication that prices at a relatively safe distance from the apex bank's upper tolerance level of inflation at 6 percent.

More news: US offers Kim aid in exchange for nukes
More news: 'Overwatch' anniversary event includes a new Deathmatch map
More news: PGP, S/MIME Encrypted Emails Can Be Revealed by Client Vulnerabilities, Researchers Say

Primary articles which have weightage of 22.62% in WPI, rose by 1.4 percent to 129.2 (provisional) from 127.4 (provisional) for the previous month. The rate had increased to 3.85 per cent in April 2017. It increased by 3.11 per cent, from 3.03 per cent in March. The rise in inflation rate for fruits, cereals, meat and fish, oils and fats, and spices was more than offset by the decline in the inflation print for vegetables, sugar, eggs, and milk and products.

For the month of February, 2018, the final WPI for "All Commodities" (Base: 2011-12=100) stood at 116.1 as compared to 115.8 (provisional) and annual rate of inflation based on final index stood at 2.74 percent as compared to 2.48 percent (provisional) respectively. Core CPI inflation remained high at 5.9 per cent in April as against 5.3 per cent in March.

"The housing and rising oil prices are likely to keep pressure on headline inflation in coming months".

Share