India's April wholesale price index (WPI) inflation falls into negative territory

India's wholesale inflation in April has fallen below 0 to -0.92% for the first time July 2020. In March, the WPI was at 1.34%. As per data from Commerce Ministry, the WPI food inflation dropped to 0.17% in April from 2.32% in March. The WPI edible oils inflation stood at -25.91% in April, while the primary articles inflation was at 1.6% at the same time. 

Meanwhile, the WPI for fuel and power was at 0.93% and the manufactured products stood at -2.42%. As per the Commerce Ministry, the decline in WPI inflation is due to the fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical and chemical products, rubber and rubber products and paper and paper products.

This fall in WPI is expected to bring down retail prices as well. In April, the retail inflation in India dropped to 4.7%, which is an 18 month low due to fall in prices of vegetables, oils and fats.