WPI inflation in April jumps to 15.08%, highest in 17 years; food, fuel prices bite

Wholesale inflation in the month of April rose to 15.08 per cent in India, highest in at least 17 years, government’s latest data showed. The spike in inflation is primarily due to rising prices of crude petroleum & natural gas, food articles such as wheat, fruits and vegetables, basic metals and chemical products, the Ministry of Commerce and Industry said Tuesday. WPI (Wholesale Price Index) inflation, which is the highest since at least April 2005, is also higher than analysts expectations of 14.48 per cent, according to a Reuters poll. This is the 13th month in a row for WPI reading to be in double digits. Earlier in March, WPI inflation was at 14.55%.