WPI inflation slips to 3.07% in April, food prices still high
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The Wholesale price inflation has decreased to 3.07% in April,2019.The reduction has been attributed to cheaper fuel and manufactured items. However,food prices have increased to 33-month high of 7.37%.
Wholesale Price Inflation tracks changes in the price of goods in stages before the retail level i.e. goods that are sold in bulk and traded between organizations instead of consumers.
It is measured by the Wholesale Price Index. The index basket of the WPI covers commodities falling under the three major groups namely Primary Articles, Fuel and Power and Manufactured products. It is important to note that WPI does not cover services.
Wholesale Price Index is computed by the Office of the Economic Advisor (OEA),Department for Promotion of Industry and Internal Trade (DPIIT),Ministry of Commerce and Industry.
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