The indicator of price rise in wholesale markets has remained in double digits for the 13th consecutive month. In April last year, the wholesale inflation rate was 10.74%.
“The high rate of inflation in April 2022 was primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, food articles, non-food articles, food products and chemical products, etc., as compared to the corresponding month of the previous year,” the Union Ministry of Commerce and Industry said in a statement.
Wholesale inflation in food articles increased marginally from 8.71% in March to 8.88% in April, the ministry said.
In the fuel and power basket, wholesale inflation was 38.66% in April. In March, it was 34.52% and in February it was 30.84%. In manufactured products section, the wholesale inflation stood at 10.85% in April, up from 10.71% in March.
Inflation in crude petroleum and natural gas was 69.07% in April as compared to 80.76% in the same period last year.
Separate data released by the government on May 12 had shown that India’s retail inflation has risen to 7.79% in April. The price rise indicator is at its highest level in eight years.
In March, retail inflation was at a 17-month high of 6.95%.
Retail inflation has remained above the limit prescribed by the Reserve Bank of India for four straight months. The central bank had earlier said it aims to keep retail inflation within the range of 2% to 6%.