India's wholesale inflation, as measured by the Wholesale Price Index (WPI), slipped to 3.07 percent in April, as against 3.18 percent in March, according to the data published by the Ministry of Commerce and Industry on May 14.
Wholesale inflation was 3.62% for the same period a year ago.
Inflation in primary articles, which has a weightage of 22.62 percent, rose to 6.50 percent in April from 5.07 percent in the previous month. Food inflation rose to 7.37 percent in April from 5.68 percent in March.
Inflation in food articles for the previous month increased on account of to higher price of tea, fruits and vegetables, peas, maize, poultry chicken among others. However, the price of egg and wheat, among others, declined.
Inflation in non-food articles for April rose to 5.23 percent from 2.83 percent in March. Crude contracted to 2.48 percent in April from 5.14 percent in the previous month.
Fuel and power inflation fell to 3.84 percent in April from 5.41 percent in March. Prices of petrol fell slightly in April as inflation in petrol prices was seen at 1.74 percent from 1.78 percent in March.
Inflation in manufactured products stood at 1.72 percent for April, down from 2.16 percent a month ago.
RBI, which mainly factors in retail inflation for monetary policy decision, had earlier this month cut interest rates by 0.25 per cent. India's retail inflation stood at 2.92 percent in April, higher than 2.86 percent in March, data released by the government on May 13 showed.For April-September period, RBI has projected retail inflation at 2.9-3 per cent, mainly due to lower food and fuel prices as well as expectation of a normal monsoon.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.