Wholesale Inflation Spikes To 15.08% In April, Double-Digit Rise For 13th Month

The wholesale price-based inflation accelerated to 15.08 per cent in April from a year ago period, government data showed on Tuesday. The WPI inflation stood at 14.55 per cent in March.

The figure has remained in double digits for the 13th consecutive month in April.

Fuel prices, a big component of the increase, were up 38.66 per cent on the year versus 34.52 per cent in March.

The surge in inflation was primarily due to rise in prices of mineral oils, metals, crude petroleum, natural gas, food and chemicals products, the Commerce and Industry Ministry said.

Inflation in food articles was 8.35 per cent, as prices of vegetables, wheat, fruits and potato witnessed a sharp spike over the year-ago period.

Inflation in crude petroleum and natural gas was 69.07 per cent in April.

Meanwhile, the retail inflation rose to a near 8-year high of 7.79 per cent in April, remaining above the Reserve Bank of India's (RBI's) inflation target for the fourth straight month.

Earlier this month, RBI had hiked its key interest rate by 0.40 per cent and cash reserve ratio by 0.50 per cent in an off-cycle move.