India’s wholesale-price base inflation (WPI) for the first time in almost three years turned negative in April, as overall prices eased. The WPI inflation fell -0.92 per cent in April, as compared to a rise of 1.34 per cent in March, the Ministry of Commerce & Industry stated in a release on Monday. The WPI inflation has fallen into negative for the first time since July 2020.
The food index climbed 0.17 per cent year-on-year (YoY), against 2.32 per cent in March, meanwhile, fuel and power index jumped 0.93 per cent from 8.96 per cent last month.
The country’s WPI inflation has been easing continuously for the last 11 months after it jumped to a 20-year high of 16.63 per cent in May last year.
The decline in the rate of inflation in April was primarily contributed by the fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products and paper & paper products, the Commerce Ministry said.