India wholesale inflation turns negative at -0.92% for April
1 min read . Updated: 15 May 2023, 12:32 PM IST
PremiumAnnual rate of inflation based on all India Wholesale Price Index (WPI) number is (-) 0.92% (Provisional) for the month of April, 2023 (over April, 2022) against 1.34% recorded in March, 2023.
The provisional data for April 2023 shows a negative inflation rate of (-) 0.92% based on the All India Wholesale Price Index (WPI), compared to a rate of 1.34% in March 2023.
As per the Ministry of Commerce & Industry, the decrease in inflation is mainly attributed to the decline in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products, and paper & paper products.
The month-over-month change in WPI for the month of April 2023 over March, 2023 remained at 0.0%, the ministry further noted.
In April 2023, the index for the primary articles rose by 1.31% to 177.3 (provisional), compared to 175.0 (provisional) in March 2023. Crude Petroleum & Natural Gas (3.47%), Minerals (2.30%), and Food Articles (1.45%) experienced price increases in April 2023 compared to March 2023.
However, Non-food Articles (-0.66%) witnessed a decline in prices during the same period.
The index for the manufactured products major group remains unchanged at 141.2 (provisional) in April, 2023.
“The Food Index consisting of 'Food Articles' from the primary articles group and 'Food Product' from Manufactured Products group has increased from 172.1 in March, 2023 to 173.6 in April, 2023. The year-over-year inflation based on WPI Food Index decreased from 2.32% in March, 2023 to 0.17% in April, 2023," the ministry noted.