off-the-wire

CORRECTED-UPDATE 1-India's annual wholesale price index falls 0.92% in April

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Corrects headline and second paragraph to say index fell "by" and not "to") NEW DELHI, May 15 (Reuters) - India's annual wholesale-price based index (WPI) fell for the first time in nearly 3 years in April, as prices softened across the board. WPI fell by 0.92%, compared with March where it had risen 1.34%. The data was below Reuters poll that predicted a fall of 0.20%.


In April, the food index rose 0.17% year-on-year, from 2.32% in March, while fuel and power rose 0.93% from 8.96%. WPI has been easing for the last 11 months from the 20-year highs of 16.63% recorded in May 2022.


The decline in the rate of inflation was broad based, primarily driven by falls in prices of crude, energy prices, non-food and food articles, the government said in the statement.


Data released on Friday showed India's annual retail inflation eased to a 18-month low in April, staying well below the Reserve Bank of India's (RBI) upper tolerance limit for the second consecutive month.

(Reporting by Aftab Ahmed and Shivangi Acharya; Editing by Kim Coghill)

Messaging: twitter: @aftabahmed00))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.