IANS | 14 May, 2024
The Wholesale Price Index (WPI), which edged up to 1.26 per cent in
April, remains benign and inflation in the food articles is expected to
rationalise by September-October, industry bodies said on Tuesday.
According to the Commerce and Industry Ministry, prices of
non-food articles (-1.19 per cent) and minerals (-1.55 per cent)
declined in April.
Sanjeev Agrawal, President, PHD Chamber of
Commerce and Industry, said that supported by negative inflation in the
non-food articles and manufactured products, the WPI inflation remains
benign.
“Despite the global headwinds, the WPI inflation
trajectory in fuel and power also remains low at 1.38 per cent in April
2024. However, the WPI inflation in food articles remained elevated at
7.74 per cent in April, compared with 6.88 per cent in March,” Agrawal
informed.
Going ahead, inflation in the food articles is expected
to rationalise by September/October 2024 “as many of the kharif crops
will be entering the mandis and supplementing the existing supply,” said
Agrawal.
The WPI Food Index showed an upward trend with the rate
of inflation increasing from 4.65 per cent in March to 5.52 per cent in
April.
Meanwhile, the consumer price inflation (CPI) eased to an 11-month low of 4.83 per cent in April.
According
to industry watchers, a timely onset and "well distribution" of monsoon
would be crucial to help control food inflation in the coming months.
