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Wholesale inflation surged to 2.61% in May due to higher food and manufacturing prices. Food article inflation spiked to 9.82%, notably in vegetables, while retail inflation dropped to a one-year low of 4.75%

Wholesale inflation rises to 2.61% in May; highest in 15 months

<h2>Wholesale inflation surged to 2.61% in May due to higher food and manufacturing prices. Food article inflation spiked to 9.82%, notably in vegetables, while retail inflation dropped to a one-year low of 4.75%</h2>

Wholesale inflation in India surged for the third consecutive month in May, reaching 2.61%, primarily due to rising prices of food articles and manufactured items. This marks a significant increase from the 1.26% recorded in April and a stark contrast to the negative inflation rate of -3.61% seen in May 2023.
<h3>Wholesale inflation surges</h3>
The Ministry of Commerce &amp; Industry attributed the positive rate of inflation in May 2024 to several factors, including higher prices of food articles, manufactured food products, crude petroleum and natural gas, mineral oils, and other manufactured goods.
Data revealed that food article inflation jumped to 9.82% in May from 7.74% in April, with vegetable inflation surging to 32.42% from 23.60% the previous month. Notably, onion prices soared by 58.05%, while potatoes saw an inflation rate of 64.05%. Pulses also experienced a significant inflation increase, rising to 21.95% in May.
In the fuel and power sector, inflation slightly decreased to 1.35% in May from 1.38% in April. However, manufactured products saw a notable rise in inflation, reaching 0.78% compared to -0.42% in the previous month.
The rise in wholesale prices contrasts sharply with the retail inflation data for the same period. Retail inflation eased to a one-year low of 4.75% in May, as reported earlier in the week. The Reserve Bank of India (RBI), which primarily considers retail inflation when setting monetary policy, had kept the interest rate unchanged for the eighth consecutive time earlier this month.
This disparity between wholesale and retail inflation highlights differing inflationary pressures in the economy. While wholesale prices are climbing due to higher costs in food and manufacturing sectors, retail inflation remains subdued, influencing the RBI's cautious stance on interest rates. The ongoing rise in wholesale prices may impact future policy decisions if the trend continues.
Also watch: <a href="https://www.editorji.com/business-news/economy/india-s-retail-inflation-eases-to-4-75-in-may-food-inflation-rises-to-8-69-1718197382923">India's retail inflation eases to 4.75% in May; food inflation rises to 8.69%</a>

The Ministry of Commerce & Industry while highlighting the significant role of global commodity prices attributed the surge in Whole sale inflation to various factors including increase in prices of food articles, electricity, fuel, among others

Wholesale inflation rises to 13-month high of 1.26% in April

<h2>The Ministry of Commerce &amp; Industry while highlighting the significant role of global commodity prices attributed the surge in Whole sale inflation to various factors including increase in prices of food articles, electricity, fuel, among others</h2>

Wholesale inflation surged to a 13-month high of 1.26% in April, driven by escalating prices of food items, particularly vegetables. This spike in the wholesale price index (WPI) inflation marks a consecutive two-month increase, following a rise from 0.20% in February to 0.53% in March. Compared to April last year, when WPI inflation stood at 0.79%, the current figure indicates a notable escalation.
<h3>WPI Inflation rises</h3>
Attributing the rise to various factors, including "increase in prices of food articles, electricity, crude petroleum and natural gas, manufacture of food products, other manufacturing etc," the Ministry of Commerce &amp; Industry highlighted the significant role of global commodity prices.
Aditi Nayar, Chief Economist at ICRA, emphasized the sensitivity of WPI inflation to global commodity trends, noting an upward trajectory in recent months. "A lot of commodity prices have shown an uptrend in the last few months, including the crude oil prices that we saw in April," Nayar stated.
With projections foreseeing a further uptick, Nayar anticipated the WPI to surpass 2% over the next two months, with ICRA forecasting an average WPI for the fiscal year at 3.3%. The food articles category witnessed a substantial surge, with vegetable inflation reaching 23.60% in April, up from 19.52% in the previous month. Notably, inflation in potatoes soared to 71.97%, while onion inflation stood at 59.75%.
Sanjeev Agrawal, President of the PHD Chamber of Commerce and Industry, offered a perspective on the future trajectory, suggesting that inflation in food articles is expected to rationalize by September/October 2024 as kharif crops enter the market, bolstering supply.
In contrast, manufactured products experienced a deflation of 0.42% in April, indicating a nuanced economic landscape. While the rise in WPI contrasts with retail inflation data, where a drop to an 11-month low of 4.83% in April was observed, the Reserve Bank of India (RBI) primarily considers retail inflation in its monetary policy decisions.
With the next RBI interest rate-setting panel meeting scheduled for June 5-7, Nayar cautioned against expectations of a policy shift, suggesting that "the chance of change in monetary policy stance in June looks extremely dim." She emphasized the significance of forthcoming economic indicators, including the fourth-quarter GDP estimate and monsoon patterns, in shaping future policy decisions. Nayar speculated that an interest rate cut is more likely in the second half of the fiscal year, possibly in October-December.
Also Watch: <a href="https://www.editorji.com/business-news/economy/april-retail-inflation-comes-in-at-4-83-vs-4-85-in-march-1715605262713">April retail inflation comes in at 4.83% vs 4.85% in March</a>

The Wholesale price-based inflation (WPI) in January rose to 2.03 percent from 1.22 percent a month ago in December.

Wholesale inflation in January rises to 2% from 1.22% in December

The Wholesale price-based inflation (WPI) in January rose to 2.03 percent from 1.22 percent a month ago in December, according to the government data released on Monday.&nbsp;
This is the highest level of WPI inflation since February 2020 when it was 2.26 percent.
WPI&nbsp;at 2.03% for the month of January 2021 as compared to 3.52% during the corresponding month of the previous year.
&nbsp;

Wholesale inflation in Jan rises to 2% from 1.22% in Dec

WPI inflation at 2.03% in Jan 2021 vs 1.22% in Dec 2020
Figure was pegged at 3.52% in January 2020
This is the highest level of WPI inflation since Feb 2020
WPI inflation in December 2020 stood at 1.22%
&nbsp;

The Wholesale price-based inflation (WPI) in January rose to 2.03 percent from 1.22 percent a month ago in December, according to the government data released on Monday.&nbsp;
This is the highest level of WPI inflation since February 2020 when it was 2.26 percent.
WPI&nbsp;was at 2.03% for the month of January 2021 as compared to 3.52% during the corresponding month of the previous year.

wholesale inflation

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