India's wholesale price inflation WPI has fallen negative for the first time

This comes after India’s retail inflation eased to an 18-month low of 4.7 per cent in April

The wholesale price inflation (WPI) in India first time fallen negative in April in almost three years. In April the WPI inflation fell -0.92 per cent, compared to rise in March of 1.34 per cent and 15.38 per cent in April last year, on Monday the ministry of commerce and industry said. 

Since July 2020, the WPI inflation has fallen into negative for the first time.

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.

In food articles also the inflation slow down to 3.54 per cent in April, compared to 5.48 per cent in March. However, the fuel and power index jumped 0.98 per cent from 8.96 per cent last month. In manufactured products, inflation rate was -2.42 per cent, compared to 0.77 per cent in March.

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.

This comes after India’s retail inflation eased to an 18-month low of 4.7 per cent in April, within the tolerance range of the Reserve Bank of India.