Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Timeout
  • Entertainment
  • Sports
  • Sci-Tech
  • Others
    • COVID-19
    • Today’s Pic
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Timeout
  • Entertainment
  • Sports
  • Sci-Tech
  • Others
    • COVID-19
    • Today’s Pic
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

WPI inflation spikes to a record high of 15.08% in April

PTI
Updated: May 17th, 2022, 17:25 IST
in Business, National, Prime News
0
Inflation
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: Wholesale price-based inflation soared to a record high of 15.08 per cent in April. This inflation happened mainly on account of spiralling prices of food, fuel and other commodities. This may prompt the Reserve Bank (RBI) to hike interest rates in upcoming monetary policy review next month.

The Wholesale Price Index (WPI) at 15.08 per cent is the highest in the new series, the data for which is available since 2012-13. The WPI inflation has remained in double digit for the 13th consecutive month since April last year.

“The high rate of inflation in April 2022 was primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, food articles, non-food articles, food products and chemicals and chemical products etc as compared to the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement, Tuesday.

Also read: Inflation will take time to moderate even after rate hikes: SBI Research

Inflation in food articles was 8.35 per cent as prices of vegetables, wheat, fruits and potato witnessed a sharp spike over the year-ago period.

In the fuel and power basket, inflation was 38.66 per cent, while in manufactured products and oil seeds, it was 10.85 per cent and 16.10 per cent, respectively, the ministry said.

Inflation in crude petroleum and natural gas was 69.07 per cent in April.

Data released last week showed that retail inflation rose to a near eight-year high of 7.79 per cent in April. It remained above the Reserve Bank’s inflation target for the fourth straight month.

To tame stubbornly high inflation, the RBI earlier this month hiked its key interest rate by 0.40 per cent and cash reserve ratio by 0.50 per cent in a surprise move.

ICRA chief economist Aditi Nayar said with some correction in commodity prices as a result of the bleaker demand outlook in China offsetting the depreciation in rupee, the WPI inflation may recede mildly below 15 per cent in May 2022, while remaining uncomfortably elevated.

The heat wave led to a spike in prices of perishables such as fruits, vegetables and milk, which along with a spike in tea prices pushed up the primary food inflation. The core-WPI inflation reverted to a four-month high of 11.1 per cent in April.

“With the WPI inflation remaining solidly in double-digits, the probability of a repo hike in the June 2022 review of monetary policy has risen further. We expect a 40 basis point hike in June 2022 followed by a 35 basis point rise in August 2022, amidst a terminal rate of 5.5 per cent to be reached by mid-2023,” Nayar informed.

 

Tags: foodfruitsfuelInflationmanufacturepotatoPrice indexRBIwheat
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

Related Posts

Active Covid-19 cases in country rise to 26,976

Active Covid-19 cases in country climb to 1,14,475

July 5, 2022
sensex

Sensex gains 328 points in early trade; Nifty nears 16,000-level

July 5, 2022
Moosewala murder: Shooters got weapons from Pakistan

Delhi Police arrests 2 more in Sidhu Moosewala murder case

July 4, 2022
Pic- IANS

Death count rises to 46, 17 still missing in Manipur landslide

July 4, 2022
Gyanvapi mosque

Varanasi court adjourns Gyanvapi hearing till July 12

July 4, 2022

Ajit Pawar named leader of opposition in Maharashtra Assembly

July 4, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

Plastic Free Odisha

National School Kujang

National School students Kujang Jagatsinghpur district support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook ...

October 2, 2018
Plastic Free Odisha

Archita Sahu, Actress

Archita Sahu support a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

IMT Pharmacy College-Puri

IMT Pharmacy College students call for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend ...

August 30, 2018
Plastic Free Odisha

Bhubaneswar Bar Association Lawyer Liberty Trust

Bhubaneswar Bar Association Lawyer Liberty Trust supports plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Students of Tulasipur Saraswati Sishu Vidya Mandir, Cuttack

Students of Tulasipur Saraswati Sishu Vidya Mandir, Cuttack call for a Plastic Free Odisha. Do you support the movement? *Visit our ...

August 29, 2018
Plastic Free Odisha

D.A.V Public School-Kalinga Nagar

D.A.V Public School Students, support Plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

August 30, 2018
Plastic Free Odisha

Odisha Rajya Rogi Adhikar Mancha & Mangalabagh International Club workers

Odisha Rajya Rogi Adhikar Mancha & Mangalabagh International Club Workers support a plastic free Odisha. Do you? *Visit our website ...

October 2, 2018
Plastic Free Odisha

Scoutmaster, Guide Captains, Rovers, and Rangers of Keonjhar

Scoutmaster, Guide Captains, Rovers, and Rangers of Keonjhar support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend ...

October 2, 2018
Plastic Free Odisha

Actor Sritam Das

Actor Sritam Das supports a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

October 2, 2018
Plastic Free Odisha

Ratikant Mohapatra,Odissi Dance Director

Ratikant Mohapatra support a plastic free odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

High school students of Sambalpur district

High school students of Sambalpur district support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Balibil Nodal School students

Balibil Nodal School students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

October 2, 2018
Plastic Free Odisha

Bijay Mohanty, Actor

Actor Bijay Mohanty calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

August 30, 2018
Plastic Free Odisha

Bargarh Ranapratap High School students

Bargarh Ranapratap High School students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

October 2, 2018
Plastic Free Odisha

Olympian Anuradha Biswal

Olympian Anuradha Biswal supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

August 30, 2018
Plastic Free Odisha

Nayagarh Girls’ High School

Nayagarh Girls’ High School students support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Padmashree Aruna Mohanty-Odissi Dancer

Padmashree Odissi Dancer Aruna Mohanty calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. ...

August 30, 2018
Plastic Free Odisha

BJB Autonomous College-Bhubaneswar

BJB Autonomous college students support a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

August 30, 2018
Plastic Free Odisha

Members of All Ride Bicycle

Members of All Ride Bicycle supports a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Korei college students

Korei college students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

October 2, 2018
Plastic Free Odisha

Actress Bhoomika Dash

Actress Bhoomika Dash calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

August 30, 2018
Plastic Free Odisha

Tanbhi Block School students and staff

Tanbhi Block School students and staff support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Gandhi Science Higher Secondary School in Khandagiri, Bhubaneswar

Gandhi Science Higher Secondary School students of Khandagiri, Bhubaneswar support a plastic free Odisha. Do you?   *Visit our website ...

October 2, 2018
Plastic Free Odisha

Akash Dasnayak, Actor

Akash Dasnayak, Actor supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

Cuttack College NCC students

Cuttack College NCC students support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

October 2, 2018
Plastic Free Odisha

Sudarsan Pattnaik,Sand Artist

Sudarsan Pattnaik support a Plastic Free Odisha. Do you?  *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your Photos/Selfie ...

August 30, 2018
Plastic Free Odisha

Govinda Poddar-Odisha Ranji Team Captain

Govinda Poddar, Odisha Ranji Team Captain  calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website ...

August 30, 2018
Plastic Free Odisha

Darsheel Safary, Actor

Darsheel Safary calls for a Plastic Free Odisha. Do you support the movement? *Visit our website www.orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

August 29, 2018
Plastic Free Odisha

Deepak Kumar-Actor

Deepak Kumar support a Plastic Free Odisha. Do you support the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

August 30, 2018
Plastic Free Odisha

Gandhi College Plus III science students of Khandagiri, Bhubaneswar

Gandhi Plus III science students of Khandagiri, Bhubaneswar support a plastic free Odisha. Do you?   *Visit our website orissapost.com. ...

October 2, 2018

Archives

Editorial

Eco First, Biz Later

Representational image (PC: gard.no)
July 5, 2022

A countrywide ban on manufacture, import, production and sale of single use plastic items has been announced by the Central...

Read more

Ragged to Death

Representational image (PC: news.iium.edu.my)
July 4, 2022

The death of a girl student by suicide due to ragging by seniors should not have come as a surprise...

Read more

This is New India

July 3, 2022

The jailing of Mohammed Zubair is the latest in a line of miscarriages of justice India’s government is inflicting on...

Read more

DASS Reshuffle

July 2, 2022

In one of his first significant decisions since taking over, the new Lt Governor of Delhi Vinai Kumar Saxena has...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Sports
  • Sci-Tech
  • About Us
  • Advertise
  • Contact Us
  • Career
Developed By Ratna Technology

© 2020 All rights Reserved by OrissaPOST

  • Home
  • Metro
  • State
  • National
  • International
  • IPL
  • Sports
  • Business
  • Entertainment
  • Feature
  • Opinion
  • Sci-Tech
  • COVID-19
  • Today’s Pic
  • About Us
  • Contact Us
  • Career
  • Facebook
  • Twitter

© 2020 All rights Reserved by OrissaPOST