India’s wholesale price index (WPI)-based inflation surged to 42-month high of 8.3 per cent in April on an annual basis, up from 3.88 per cent in March this year. On a month-on-month basis, the WPI rose to 3.86 per cent in April as compared with 1.52 per cent in March, pointing to a build-up in input cost pressures. Data released by the Ministry of Commerce and Industry showed that the sharp rise in inflation last month was primarily driven by higher prices of mineral oils, crude petroleum and natural gas, basic metals, manufactured products, and non-food articles.

 

Among the major categories, the annual inflation rate in the fuel and power segment soared to 24.71 per cent in April, sharply up from 1.05 per cent in March. Inflation in primary articles also rose significantly to 9.17 per cent from 6.36 per cent. Manufactured products, which carry the highest weight in the WPI basket, recorded an inflation rate of 4.62 per cent in April, compared with 3.39 per cent in March. Meanwhile, the WPI food index, comprising food articles and food products, edged up to 2.31 per cent from 1.85 per cent.