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14 May 2018, 09:05 | Hattie Nash
Retail Inflation Inches Up to 4.58 Percent in April; CPI on Decline Since A Year
As per data released by the Central Statistics Office (CSO), the rate of price rise in the protein rich items like meat and fish inched up in April to 3.59%, as against the previous month of 3.17%.
The inflation, which is based on CPI, was 2.99 percent previous year in April.
PHD Chamber of Commerce President Anil Khaitan termed the rise in inflation worrisome and hoped that prices do not increase further in the coming months.
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Among primary articles, inflation in food articles stood at 0.87% in April, against a decline of 0.29% in March.
The official Wholesale Price Index for "All Commodities" (Base: 2011-12=100) for the month of April, 2018 rose by 0.7 percent to 116.8 (provisional) from 116.0 (provisional) for the previous month.
Meanwhile, the rate of inflation based on WPI Food Index consisting of "Food Articles" from Primary Articles group and "Food Product" from Manufactured Products group increased from (-) 0.07 percent in March to 0.67 percent in April. Overall, inflation in the food basket remained flat at 2.8 percent month-on-month.
Fuel inflation, which has seen an uptick since July, grew at 5.24 percent in April as compared to 5.7 percent last month. It also slashed CPI inflation estimate to 4.7-5.1 percent in April-September, 2018-19 and 4.4 percent in the next half of the year, including the impact of house rent allowance.
"The annual rate of inflation, based on monthly WPI, stood at 3.18 per cent (provisional) for the month of April 2018 (over April 2017) as compared to 2.47 per cent (provisional) for the previous month and 3.85 per cent during the corresponding month of the previous year", the ministry said in the review for April 2018.
A global rally in crude prices pushed up domestic fuel prices, with petrol at Rs 74.80 per litre and diesel at a record high of Rs 66.14 a litre.
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