India's annual wholesale price index (WPI)
accelerated into the positive terrain after staying in negative zone for 17
straight months, official data showed on Monday. India Inc expressed mixed reactions to the numbers.
The annual WPI moved up to 0.34 percent for April, from (-)0.85 percent in March and (-)2.43 percent during the corresponding month of the previous year.
Food articles inflation jumped to 4.23 percent due to higher prices of tea, pulses, poultry, egg, meat, fish, wheat, milk and fruits and vegetables especially potatoes.
The annual WPI moved up to 0.34 percent for April, from (-)0.85 percent in March and (-)2.43 percent during the corresponding month of the previous year.
Food articles inflation jumped to 4.23 percent due to higher prices of tea, pulses, poultry, egg, meat, fish, wheat, milk and fruits and vegetables especially potatoes.
The data furnished by the commerce ministry
showed that among the three major sub-indices of the WPI, the inflation rate for the index of primary articles, and fuels and power in
April increased by 2.1 percent and 1.7 percent, respectively, on a
month-to-month basis.
Similarly,
the index for manufactured products, which has the highest weightage in the WPI
rose by 0.8 percent month-on-month.
On a year-on-year basis, the April data disclosed that prices of primary articles rose 2.34 percent, whereas the manufactured product edged up by 0.71 percent.
On a year-on-year basis, the April data disclosed that prices of primary articles rose 2.34 percent, whereas the manufactured product edged up by 0.71 percent.
The rise
in WPI comes after the Consumer Price Index (CPI) for April showed an upward
movement in annual retail
inflation , which rose to 5.39 percent from 4.83 percent in March.
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