Wholesale inflation increases to 0.34% in April

The wholesale price index (WPI), or wholesale inflation rose to 0.34% in the month of April 2016 as against a negative 0.85% in March and a negative 2.34% in the same month of last year, Government data showed. 

According to a statement issued by Ministry of Commerce & Industry, "Build up inflation rate in the financial year so far was 1.37% compared to a build up rate of 0.17% in the corresponding period of the previous year." 

Primary articles, that weigh over 20% on the index, rose by 2.1% in the month of April as against previous month. 

source: tradingeconomics.com

The data showed that wholesale inflation in food articles grew by 2% due to higher prices of tea, fruits and vegetables, etc. "However, the price of egg (4%), fish-marine (2%) and fish-inland and wheat (1% each) declined," the ministry said. 

It further said, "The index for this major group rose by 1.7 percent to 175.4 (provisional) from 172.4 (provisional) for the previous month due to higher price of aviation turbine fuel (10%), bitumen (8%), furnace oil and petrol (5% each) and high speed diesel (3%)."

The data showed that the rate of wholesale inflation in the past six months stood at -0.85%, 0.85%, -1.07%, -1.06% and -2.04% in the months of March 2016, February 2016, January 2016, December 2015 and November 2015, respectively.