• UGI USER
  • May 15, 2024
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APRIL SAW A 13-MONTH HIGH IN WHOLESALE PRICE INFLATION

Why in the news?

  • India’s wholesale price inflation hit a 13-month high of 1.26% in April, up from 0.53% in March.
  • The increase was driven by a surge in food prices and a 1.4% rise in fuel and power prices after 11 months of deflation.
  • Prices of primary food articles rose to 7.74% in April, up from 6.88% in March.
  • Vegetable inflation spiked to 23.6%, with potatoes and onions surging 72% and 60%, respectively.
 source:deccanherald

About the Control of Inflation in India:

  • The Reserve Bank of India (RBI) is responsible for controlling inflation.
  • It implements monetary policies like increasing bank rates, repo rates, and cash reserve ratio.
  • Regulates money supply and availability of credit to manage inflation effectively.
About Wholesale Price Index (WPI):

  • Represents wholesale stage prices of goods traded between organisations.
  • Consists of 697 items: Primary Articles (117), Fuel and Power (16), Manufactured Products (564).
  • Percentage increase over a year indicates inflation.
  • Base year: 2011-12.
  • Key measure of inflation in India.

Associated Article:

https://universalinstitutions.com/wpi-inflation-rate/

https://universalinstitutions.com/inflation/