Vistof of inflation! Wholesale inflation hits 9-year high, food prices skyrocket | Inflation hits Wholesale inflation hits 9 year high Food prices skyrocket
While the average person is plagued by inflation, wholesale inflation is reported to be at a nine-year high. Wholesale inflation figures for April Wholesale price inflation rose to 15.08 per cent in April, the highest level in nine years.
Mumbai: Wholesale WPI data for April in India Wholesale price index in April (Wholesale price index) 15.08 per cent, the highest level in 9 years (At the highest level) Is. Inflation was 14.55 per cent in March. The rate of inflation is much higher than the market forecast. Last month, retail inflation rose on a monthly basis (On a monthly basis) It has risen from 10.9 per cent to 11 per cent. Inflation for products rose to 10.85%. Inflation in vegetables rose to 19.88 per cent in March from 23.24 per cent in the previous month. It has decreased on a monthly basis. Wholesale price of potatoes declined by 19.84 per cent and onion by 4.02 per cent. In March, the wholesale price inflation was 24.62 per cent for potatoes and 9.33 per cent for onion.
Food prices also rose
Food inflation has been steadily rising. Inflation was 8.88 per cent in April, compared to 8.71 per cent in March. Fuel and electricity inflation rose to 38.66 per cent in March from 34.52 per cent in the previous month. Retail inflation has also reached an eight-year high. Retail inflation has also reached an eight-year high. According to data released last week, retail inflation rose to 7.79 per cent in April. Rising food and oil prices have pushed up inflation. This is the highest level of retail inflation since May 2014. Retail inflation rises to 6 per cent for fourth straight month The Reserve Bank of India (RBI) has set a maximum inflation rate of 6 per cent.
More than the target set by the RBI
This is the fourth consecutive month that retail inflation has exceeded the target set by the Reserve Bank. The government has set a target of keeping inflation at 2 to 6 per cent. Retail inflation has been above 6 per cent since January 2022. Food inflation rose to 8.38 per cent in April. It was 7.68 per cent in the previous month and 1.96 per cent in the same month last year.
Inflation is higher in rural areas than in cities
Inflation in rural areas stood at 7.66 per cent in March, according to the data. Inflation in rural areas rose to 8.38 per cent in April 2022 from 3.75 per cent in April 2021. Inflation in cities was 6.12 per cent in March. Inflation rose to 7.09 per cent in April 2022 from 4.71 per cent in April 2021.