The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 1.26 percent (Provisional) for the month of April 2024 (over April 2023). Positive rate of inflation in April 2024 is primarily due to increase in prices of food articles, electricity, crude petroleum & natural gas, manufacture of food products, other manufacturing etc.
Month-over-Month Change
The index for Primary Articles group increased by 1.97 percent to 186.7 (provisional) in April 2024 from 183.1 (provisional) for the month of March 2024. Prices of crude petroleum & natural gas (3.56 percent) and food articles (2.67 percent) increased in April 2024 as compared to March 2024. Prices of non-food articles (-1.19 percent) and minerals (-1.55 percent) declined in April 2024 as compared to March 2024.
The index for Fuel & Power group declined by 0.26 percent to 154.8 (provisional) in April 2024 from 155.2 (provisional) for the month of March 2024. Prices of mineral oils (0.06 percent) increased in April 2024 as compared to March 2024. Prices of electricity (-1.20 percent) declined in April 2024 as compared to March 2024.
The index for Manufactured Products group increased by 0.50 percent to 140.8 (provisional) in April 2024 from 140.1 (provisional) for the month of March 2024. Out of the 22 NIC two-digit groups for manufactured products, 15 groups witnessed an increase in prices, 5 groups have witnessed a decrease in prices and 2 groups witnessed no change in prices. Some of the important groups that showed month-over-month increase in prices are basic metals; other manufacturing; textiles; food products; chemical & chemical products, etc. Some of the groups that witnessed a decrease in prices are other non-metallic mineral products; paper & paper products; motor vehicles, trailers & semi-trailers; furniture; and leather & related products in April 2024 as compared to March 2024.
The Food Index consisting of food articles from primary articles group and food product from manufactured products group have increased from 180.1 in March 2024 to 183.6 in April 2024. The rate of inflation based on WPI Food Index increased from 4.65 percent in March 2024 to 5.52 percent in April 2024.
Further, the final Index and the inflation rate for the month of February 2024 (Base Year: 2011-12=100) stood at 151.2 and 0.20 percent respectively.
