In April, wholesale price-based inflation reached a new high of 15.08 percent due to rising prices in a variety of sectors, including food and commodities.
In March, WPI-based inflation was 14.55 percent, up from 10.74 percent in April of the previous year.
The high rate of inflation in April 2022 was principally caused by increases in the cost of mineral oils, basic metals, crude petroleum and natural gas, food articles, non-food articles, food products, and chemicals and chemical products, among other things. In comparison to the same month last year, the trade and industry ministry stated in a statement.
Since April of last year, WPI inflation has been in double digits for the 13th straight month.
Food inflation was 8.35%, with prices of vegetables, grains, fruits, and potatoes rising sharply over the previous year.
Inflation in the fuel and electricity basket was 38.66%, while it was 10.85% and 16.10% in manufactured goods and oilseeds, respectively.
In April, crude petroleum and natural gas inflation was 69.07 percent.
Retail inflation surged to a near 8-year high of 7.79% in April, continuing beyond the Reserve Bank’s inflation goal for the fourth consecutive month, according to data released last week.
To combat persistently rising inflation, the RBI unexpectedly raised its benchmark interest rate by 0.40 percent and its cash reserve ratio by 0.50 percent earlier this month.