India’s WPI Inflation Jumps To 11-Year High In April

India’s wholesale inflation rose to the highest in more than a decade, aided by a low base and on a spike in prices of basic metals, fuel and power.

Inflation as measured by the Wholesale Price Index rose to 10.49% in April 2021—the highest since April 2010—from 7.39% in the previous month, according to data released by the Ministry of Commerce and Industry. A Bloomberg poll of 20 economists had pegged the figure at 9.35%.

Retail inflation, however, had eased to a three-month low of 4.29% in the reported month.

Inflation Internals

• In April, primary articles inflation rose 10.16% year-on-year and 3.83% over the preceding month.
• Prices of food articles rose 4.92% year-on-year and 3.84% over March.
• Fuel and power index rose 20.94% year-on-year but contracted 1% over March.
• Manufactured products inflation rose 9.01% year-on-year and 1.65% over the preceding month.