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

Himanta Biswa Sarma

2,278 arrested in three days in Assam’s child marriage crackdown

February 5, 2023
Asaduddin Owaisi

Govt’s malicious motive behind crackdown on child marriages, says Asaduddin Owaisi

February 5, 2023
Adani-Hindenburg

Opposition parties raise pitch on Adani issue

February 5, 2023
World, crisis, Narendra, Voice of Global South summit

PM to inaugurate India Energy Week, launch E20 fuel

February 5, 2023
nia national investigation agency

Two more PFI members arrested for conspiring to carry out targeted killings in Bihar

February 5, 2023

‘Huge opportunity’: Sqdn Ldr Avani Chaturvedi on becoming IAF’s first woman pilot to participate in aerial wargame abroad

February 5, 2023

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

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

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

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

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

Hockey Player Dilip Tirkey

Hockey Player Dilip Tirkey supports 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

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

Unit III Bharat Scouts and Guide

Unit III Bharat Scouts and Guides team call for a Plastic Free Odisha. Do you support the movement? *Visit our website ...

August 29, 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

Srikumar Misra-Entrepreneur

Srikumar Misra 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

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

Sri Aurobindo School students & teachers

Sri Aurobindo School students & teachers of Sambalpur support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

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

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

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

Arindam Roy, Actor

Arindam Roy supports call for a Plastic Free Odisha. Do you support the movement? *Visit our website www.orissapost.com. Like,Share,Subscribe,Recommend our Facebook ...

August 29, 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

CRPF 127 Battalion, Bhanjanagar

CRPF 127 Battalion, Bhanjanagar supports 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

Swaraj Barik, Actor

Swaraj Barik 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

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

Valena Valentina-Karate Player

Karate player Valena Valentina calls 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

Samanta Singhara Nodal High School students

Samanta Singhara Nodal High School students of Balia, Jajpur support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend ...

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

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

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

Naveen Jindal-Enterpreneur

Naveen Jindal 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

Elina Samantray, Actress

Elina Samantray 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

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

Debashish Mohanty-Former Indian Cricketer

Cricketer Debashish Mohanty 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

Hinjili Police

Hinjili Police support 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 ...

October 2, 2018

Archives

Editorial

Detached From Reality

February 5, 2023

In 2018, the government of India published a report under Niti Aayog titled [email protected] In it the government set itself...

Read more

Yogi’s Ambitions

February 4, 2023

Uttar Pradesh’s senior bureaucrats led by the state’s Finance Minister & Minister for Parliamentary Affairs, Suresh Kumar Khanna visited the...

Read more

Tel Aviv Tightrope

US Secretary of State Antony Blinken, left, and Egyptian Foreign Minister Sameh Shoukry hold a press conference in Cairo, Egypt, January 30, 2023. (PC: AP)
February 1, 2023

US Secretary of State Antony Blinken’s ongoing visit to Israel is taking place in a period of intense crisis aggravated...

Read more

Ukraine’s Twin Wars

Local residents remove debris from a house of their neighbour damaged by a Russian military strike, amid Russia's attack on Ukraine, in the town of Hlevakha, outside Kyiv, Ukraine [Valentyn Ogirenko/Reuters]
January 31, 2023

As military and humanitarian aid worth billions of dollars keep pouring into Ukraine during its ongoing war against Russia, there...

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