India’s wholesale price index-based inflation accelerated to 1.26 per cent in April on an annual basis as against 0.53 per cent in March, at a 13-month high, data from the Commerce Ministry on Tuesday showed.
A Reuters poll showed that WPI inflation for April was expected at 1 per cent.
Wholesale onion prices quickened by 59.75 per cent in April after rising 56.99 per cent in March.
According to industry representatives, India is expected to face a major shortage in onion supply until it harvests the next kharif crop marking a reversal from the current scenario with the country facing a glut in supplies of the bulb vegetable and stable prices amid an export ban.
Moreover, WPI for potatoes accelerated by 71.97 per cent in April after rising 52.96 per cent in March.
Wholesale prices of onions had contracted by 5.54 per cent and potatoes surged by 30.56 per cent in the same month a year ago, data shows.
Wholesale food inflation quickened to 5.52 per cent on an annual basis after rising 4.7 per cent in March. On a MoM basis, food inflation grew 1.94 per cent after growing 0.95 per cent in March.
The government also released India’s retail inflation data which showed that it eased to a 11-month low in April at 4.83 per cent on an annual basis as against 4.85 per cent in the previous month.
(More to come)
