India’s WPI inflation drops to -0.92% in April

New Delhi, May 15 (KNN) The annual rate of inflation based on all India Wholesale Price Index (WPI) number is - 0.92 per cent for the month of April, 2023 (over April, 2022) against 1.34 per cent recorded in March, 2023, said the government on Monday.

Decline in the rate of inflation in April, 2023 is primarily contributed by fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products and paper & paper products, said the Ministry of Commerce and Industry.

The month-over-month change in WPI for the month of April 2023 over March, 2023 remained at 0.0 per cent.

In Primary Articles the index for this major group increased by 1.31 per cent to 177.3 (provisional) in April, 2023 from 175.0 (provisional) for the month of March, 2023.

Prices of Crude Petroleum & Natural Gas (3.47%), Minerals (2.30%) and Food Articles (1.45%) increased in April, 2023 as compared to March, 2023. Prices of Non-food Articles (-0.66%) declined in April, 2023 as compared to March, 2023.

The index for Fuel & Power declined by 2.68% to 152.6 (provisional) in April, 2023 from 156.8 (provisional) for the month of March, 2023.

Prices of Coal (-0.22%), Electricity (-2.20%) and Mineral Oils (-3.33%) declined in April, 2023 as compared to March, 2023.

Further for Manufactured Products the index remains unchanged at 141.2 (provisional) in April, 2023.

Out of the 22 NIC two-digit groups for Manufactured products, 14 groups that have witnessed increase in prices while 8 groups that have witnessed a decrease in prices.

The increase in price is mainly contributed by machinery & equipment; textiles; other transport equipment; computer, electronic & optical products; motor vehicles, trailers & semi-trailers; pharmaceuticals, medicinal chemical & botanical products etc.

Some of the groups that have witnessed decrease in prices are chemicals & chemical products; basic metals; food products; fabricated metal products, except machinery & equipment; leather & related products; paper & paper products etc. in April, 2023 as compared to March, 2023.  (KNN Bureau)