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Wholesale Inflation accelerates to 3.18% in April 2018
15 May 2018, 11:16 | Austin Hogan
Retail inflation increases to 4.58% in April
On a monthly basis, wholesale prices increased 0.7 percent in April.
India's retail inflation came in at 4.58 percent in April from March's 4.28 percent due to rise in prices of miscellaneous items such as education, household goods, personal care items as well as petrol and diesel prices, data released by statistics office showed.
According to government data released on Monday, inflation in food articles was at 0.87 per cent in April 2018, as against a deflation of 0.29 per cent in the preceding month.
The rise in inflation rates have given rise to expectations of a prolonged pause on policy rates by the Reserve Bank of India (RBI) in this financial year. Those expectations got a boost after central bank deputy governor in charge of monetary policy, Viral Acharya, said he would vote for a withdrawal in monetary accommodation in June, citing sticky core inflation.
The annual CPI in rural areas in April ruled higher at 4.67 per cent, while in urban India it rose by 4.42 per cent.
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Annual consumer price inflation (CPI) accelerated to 4.58 per cent in April, the government data showed on Monday. Retail inflation, based on movement in Consumer Price Index (CPI), rose after declining since January on account of rise in prices of cereals, meat, fish and fruits. It touched a high of $78 this month.
The index for Manufacture of Other Transport Equipment group declined by 0.4 per cent to 110.2 from 110.6 for the previous month due to lower price of railway brake gear (4 per cent) and motorcycles (1 per cent).
However, inflation in vegetables segment was lower at 7.29 percent in April compared to 11.7 percent. Overall, inflation in the food basket remained flat at 2.8 per cent month-on-month.
Among manufactured products, basic metals rose by 13.04%, while sugar became cheaper by 15.56% in April over the corresponding month a year ago. Petrol prices increased by 9.45% over April past year, while liquefied petroleum gas became cheaper by 11.73%. In March, deflationary pressures on food articles meant that pulses and vegetables turned cheaper while falling prices of at least some commodities such as tomatoes, reflected farmers' woes.
In addition, India Ratings and Research's Chief Economist Devendra Kumar Pant said: "Higher core-core inflation (non-food, non-fuel and light and non-transport and communication) shot to 34 months high at 6 per cent".
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