Inflation hits 13-month high, climbs to 1.26% in April

THE GOAN NETWORK | MAY 16, 2024, 01:33 AM IST

The wholesale price index (WPI)-based inflation in India climbed to 1.26 per cent in April as against 0.53 per cent recorded a month earlier, as per Central government data released on Tuesday indicating a probable spike in prices of daily use commodities.

As per the data, the increase in inflation for April is mainly because of a spike in prices of electricity, food articles, manufactured food products, crude oil, petroleum and natural gas, besides other manufacturing.

Economists say the high inflation coupled with the ongoing heatwave could put immense pressure on food prices through May and June. Especially the heatwave pushing prices of perishable food articles upwards.

Policy makers, meanwhile, are hoping that the monsoon expected to hit the coast of Kerala earlier than normal may help ease the situation.

Tuesday’s data also pegged the wholesale price index (WPI)-based food inflation at 7.74 per cent in April, a four-month high. The retail food inflation figure was also high at 8.70 per cent for April as against 3.84 per cent last year.

Meanwhile, the continued heatwave conditions are expected to put pressure on the prices of fruits and vegetables in the local markets mostly supplied by produce from nearby regions of Karnataka and Maharashtra.

Local traders in the Panaji market, also said that the rainfall witnessed on Tuesday in Karnataka could further hamper harvesting operations.

Share this