Inflation hit, wholesale inflation reached the highest level of 9 years, the prices of food items reached the sky

Wholesale Inflation for the month of April (WPI for April) data has been revealed. Wholesale Inflation in April (Wholesale Price Index) rose to 15.08 percent, the highest level in nine years. Wholesale inflation stood at 14.55 per cent in the month of March. The rise in inflation rate is much higher than the market estimate. In the last month, core inflation has risen from 10.9 per cent on a monthly basis to 11 per cent. Inflation for manufacturing products has increased to 10.85%. Wholesale inflation for vegetables stood at 19.88 per cent as against 23.24 per cent in the month of March. It has declined on a monthly basis. Wholesale inflation of potato declined to 19.84 per cent and that of onion to -4.02 per cent. In the month of March, the wholesale inflation rate of potato was 24.62 percent and the wholesale inflation of onion was -9.33 percent.

There is a steady rise in food inflation. Fund inflation stood at 8.88 per cent in April as against 8.71 per cent in the month of March. Inflation for fuel and power stood at 38.66 per cent as against 34.52 per cent in the month of March.

The annual rate of inflation was 15.08% (Provisional) for the month of April 2022 (YoY) as compared to 10.74% in April 2021: Govt of India

— ANI (@ANI) May 17, 2022

Retail inflation also at the highest level in 8 years

Retail inflation has also reached a new high of 8 years. According to the data released during the last week, the retail inflation rate has reached 7.79 percent in April. This jump in inflation has been seen due to the rise in the prices of food items and oil. This level of retail inflation is the highest level ever since May 2014. This is the fourth consecutive month that retail inflation has crossed 6 per cent. The Reserve Bank has kept an upper limit of 6 percent for retail inflation.

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