India Inflation April 2024: Wholesale inflation rate has increased to 1.26 percent in the month of April. This is the highest level of inflation in 13 months. Earlier in March 2023, the wholesale inflation rate was 1.34%. Inflation has increased due to increase in prices of food items. Whereas a month before this in March 2024 it was 0.53%. Whereas the wholesale inflation rate was 0.20% in February and 0.27% in January.
Food inflation rate increased in April
Compared to March, food inflation increased from 4.65% to 5.52%. Inflation rate of daily necessities items increased from 4.51% to 5.01%. Wholesale inflation rate of fuel and electricity increased from -0.77% to 1.38%. Read More – Aamir Khan announced Sarfarosh 2, said this after 25 years…Wholesale inflation rate of manufacturing products has increased from -0.85% to -0.42%.
Fall in retail inflation rate
Earlier in April, retail inflation rate was the lowest in 11 months. It has come down to 4.83% in April. In June 2023 it was 4.81%. However, food items have become expensive in April. The National Statistics Office had released these figures on Monday 14 May.
Whereas a month ago i.e. in March 2024 the inflation rate was 4.85%. Food inflation rate has increased from 8.52% to 8.78%. Rural inflation rate has decreased from 5.45% to 5.43% and urban inflation rate has decreased from 4.14% to 4.11%. Read More – Abdu Rozik is going to get married, gave good news to fans by sharing video…
Impact of WPI on common man
A prolonged increase in wholesale inflation has a negative impact on most productive sectors. If wholesale prices remain high for too long, producers pass the burden on to consumers. The government can control WPI only through tax.
For example, in the face of sharp rise in crude oil, the government had reduced the excise duty on fuel. However, the government can reduce the tax cut only to a certain limit. In WPI, more weightage is given to factory related goods like metal, chemical, plastic, rubber.