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Informist, Wednesday, May 14, 2025

 

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--India Apr WPI inflation 0.85% vs 2.05% in Mar 
--Informist poll estimated India Apr WPI inflation at 1.4% 
--India Apr WPI food inflation at 2.55% vs 4.66% in Mar 
--India Apr WPI primary articles inflation at -1.44% vs 0.76% in Mar 
--India Apr WPI fuel and power inflation at -2.18% vs 0.20% in Mar 
--India Apr WPI manufactured products inflation at 2.62% vs 3.07% in Mar 
--India Apr WPI all commodities index down 0.2% on month 
--India Apr WPI food index up 0.3% on month 
--India Apr WPI primary articles index down 0.1% on month 
--India Apr WPI fuel and power group index down 2.8% on month 
--India Apr WPI manufactured products index up 0.4% on month 
--India Apr WPI vegetable index up 4.7% on month 
--India Apr WPI cereals index down 1.9% on month 
--India Apr WPI edible oils index down 0.3% on month 
--India Apr WPI basic metals index up 1.0% on month 
--India Feb WPI inflation rate revised to 2.45% vs 2.38% provisional 
--India Apr WPI core inflation rate at 1.5% vs 1.5% in Mar 
--India Apr WPI inflation of 0.85% lowest in 13 months

 

NEW DELHI - India's WPI inflation fell to a 13-month low of 0.85% in April mainly because of a drop in wholesale vegetable and pulses prices, data released by the commerce ministry Wednesday showed. WPI inflation was 2.05% in March and 1.19% in April 2024.

 

At 0.85%, wholesale inflation for April is much lower than the consensus expectation. According to a poll by Informist, WPI inflation in April was seen at 1.4%. The print for February was revised higher to 2.45% from the provisional estimate of 2.38%.

 

The all commodities index of the WPI was down 0.2% on month in April, while the food index rose 0.3% from March. The primary articles index fell 0.1% on month in April, while the fuel and power index was down 2.8% from March.

 

Wholesale primary articles inflation fell to a 22-month low of (-)1.44% in April because vegetable inflation was at a 18-month low of (-)18.26% last month. Sequentially, however, wholesale vegetable prices rose 4.7% from March.

 

WPI food inflation fell to an 18-month low of 2.55% in April, while fuel and power inflation fell to a four-month low of (-)2.18%.

 

Core WPI inflation--or inflation excluding food and fuel items--remained at 1.5% for the second consecutive month in April. The last time core WPI inflation was higher was in February 2023 at 2.1%.

 

"ICRA expects the WPI-food inflation to soften further in May 2025 from 2.5% in April, aided by the favourable base as well as relatively favourable trends in wholesale prices of essential food items in the ongoing month so far," Rahul Agrawal, senior economist at the rating agency, said in a note. "This, along with the softening in commodity and crude oil prices, is expected to augur well for the WPI print for May 2025. We expect the same to ease slightly to around 0.5-0.8% in the month," Agrawal said. 

 

WPI inflation remains well below its retail counterpart. Data released Tuesday showed CPI inflation fell to 3.16% in April, the lowest since July 2019. Lower inflation, both WPI and CPI, would provide the Reserve Bank of India space to lower interest rates going ahead, with the Monetary Policy Committee seen cutting the repo rate by 25 basis points to 5.75% in June.

 

The following table details the sequential and annual increase in the main components of the WPI:

 

	Weight (%)	April (index)	Month-on-month change	Year-on-year change
				April	March
ALL COMMODITIES	100	154.2	(-)0.2%	0.85%	2.05%
PRIMARY ARTICLES	22.62	184.4	(-)0.1%	(-)1.44%	0.76%
Food articles	15.26	195.1	0.4%	(-)0.86%	1.57%
Cereals	2.82	207.1	(-)1.9%	3.81%	5.49%
Pulses	0.64	203.6	(-)0.7%	(-)5.57%	(-)2.98%
Vegetables	1.87	185.8	4.7%	(-)18.26%	(-)15.88%
Potato	0.28	204.4	2.4%	(-)24.30%	(-)6.77%
Onion	0.16	204.5	(-)25.3%	0.20%	26.65%
Tomato	0.28	149.7	5.0%	(-)38.65%	(-)42.98%
Fruits	1.6	217.3	(-)0.6%	8.38%	20.78%
Milk	4.44	186.4	(-)0.2%	0.59%	1.41%
Eggs, meat, and fish	2.4	172.1	1.2%	(-)0.29%	0.71%
Non-food articles	4.12	159.9	(-)1.8%	1.40%	1.75%
Oil seeds	1.12	182.9	2.0%	1.89%	0.34%
Minerals	0.83	245.7	7.8%	9.69%	2.84%
Iron ore	0.21	134.2	(-)0.2%	1.28%	(-)1.03%
Crude petroleum	1.95	113.9	(-)5.7%	(-)19.85%	(-)11.50%
FUEL and POWER	13.15	148.1	(-)2.8%	(-)2.18%	0.20%
Coal	2.14	135.9	0.2%	0.00%	(-)0.15%
Liquefied petroleum gas	0.64	120.9	(-)2.3%	(-)0.41%	0.24%
Petrol	1.6	146.3	(-)3.6%	(-)7.70%	(-)3.86%
High speed diesel	3.1	160.0	(-)3.3%	(-)5.04%	(-)2.88%
Electricity	3.06	150.4	(-)1.4%	6.59%	5.46%
MANUFACTURED PRODUCTS	64.23	144.9	0.4%	2.62%	3.07%
Food products	9.12	179.6	0.1%	9.51%	10.67%
Edible oils	2.64	190.2	(-)0.3%	28.69%	30.95%
Textiles	4.88	136.4	(-)0.2%	0.52%	1.71%
Chemical, chemical products	6.47	137.4	0.4%	1.25%	0.96%
Non-metallic mineral products	3.2	132.7	0.0%	0.08	(-)0.30%
Cement and lime	1.64	131.7	0.1%	(-)1.42%	(-)2.01%
Basic metals	9.65	140.5	1.0%	(-)0.64%	0.29%
Semi-finished steel	1.27	118.7	0.4%	0.25%	1.03%

 

End

 

Reported by Shubham Rana

Edited by Vandana Hinograni

 

 

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