The Wholesale Price Index (WPI) based inflation stood at 2.47% in March and 3.85% in April last year. Inflation in ‘fuel and power’ basket rose sharply to 7.85% in April from 4.70% in March as prices of domestic fuel increased in line with rising global crude oil rates. In the ‘fuel and power’ basket in WPI, petrol inflation spiked to 9.45% in April from 2.55% in March; while diesel jumped to 13.01% from 6.12% in the previous month. ICRA Principal Economist Aditi Nayar said WPI inflation is expected to continue to rise over the remainder of this quarter. The WPI inflation for February was revised upwards to 2.74% from the provisional estimate of 2.48%.

Source: Mint May 14, 2018 07:30 UTC