Retail inflation accelerates to 4.58% in April

Retail inflation increases to 4.58% in April

The annual rate of Inflation, based on monthly Wholesale Price Index, stood at 3.18 percent (provisional) for the month of April 2018, as compared to 2.47 percent (provisional) for the previous month.

The Centre on Monday notified that Wholesale Price Index (WPI)-based inflation stood at 3.18 percent in the month of April 2018.

The index for Manufacture of Motor Vehicles, Trailers and Semi-Trailers group rose by 0.2 per cent to 111.2 from 111.0 for the previous month due to higher price of release valve (3 per cent), crankshaft (2 per cent) and cylinder liners, ignition device, wheels/wheels & parts, shafts of all kinds, chassis of different vehicle types and passenger vehicles (1 per cent each). On the other hand, there are several other agri commodities like cereals, pulses which have seen a sharp drop in prices and could cause distress to the farmer.

Inflation for fuel and power segment came at 7.85% in April as compared to 4.70% for the previous month. However, the price of bicycles of all types (1 per cent) moved up.

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The inflation based on Consumer Price Index (CPI), a key data factored in by the Reserve Bank while deciding interest rate, was 4.28 percent in March. However, the price of manufacture of cordage, rope, twine and netting, woollen yarn and manufacture of made-up textile articles, except apparel declined by one percent.

The index for Crude Petroleum & Natural Gas group rose by 2.4% to 82.1 (provisional) from 80.2 (provisional) for the previous month due to higher price of natural gas (4%) and crude petroleum (2%).

The index for Manufactured Products group rose by 0.3 percent to 116.1 (provisional) from 115.7 (provisional) for the previous month. This index has the highest weightage in deriving WPI at 64.23%. With this, WPI has surged to 3-month high in the latest month. However, the price of LPG (5%) declined.

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