None
Skip to mainAccording to official data released by the Ministry of Commerce and Industry on Monday, India's Wholesale Price Index (WPI) recorded a negative figure of minus 0.92% in April. This marks the first time it has entered negative territory since July 2020.
As the index has come down, the Reserve Bank of India (RBI) will consider the decrease in inflation, which is currently below the six percent threshold. This will subsequently reduce the interest rates on various loans and deposits.
The decline in inflation during April can primarily be attributed to various factors such as lower prices of food articles including cereals, wheat, vegetables, potatoes, fruits, eggs, meat, and fish. Additionally, minerals, crude petroleum and natural gas, as well as steel, also experienced a decrease in prices.
Sonal Badhan, an economist at Bank of Baroda, noted that while the prices of vegetables, milk, eggs, meat, and fish decreased, it is important to closely monitor the upward movement in prices of food grains, particularly pulses and paddy. Badhan mentioned that manufactured products have benefited significantly from the decline in international commodity prices.
This downward trend is expected to continue due to the weak global growth momentum, particularly influenced by the United States and China, which will exert downward pressure on prices. Moreover, oil prices are anticipated to weaken, providing support to the fuel and power inflation index. Badhan emphasized that the trajectory of food prices, considering the ongoing heat wave conditions and the performance of the monsoon, will be crucial moving forward.
Wholesale inflation has been consistently easing, with a rate of 1.34% in March compared to 3.85% in February. Since October, when it reached 8.39%, overall wholesale inflation has been on a downward trajectory. Notably, the WPI-based inflation remained in double digits for 18 consecutive months until September.
🕑 08 Dec,23 10:42a.m.
Timeline for transfer on mutual exchange for non-gazetted railway employees
🕑 07 Dec,23 10:45p.m.
46,000 CAPF personnel opted for early retirement over the past five years
🕑 07 Dec,23 6:40p.m.
Lok Sabha Q&A : Extra attempt and age relaxation for UPSC CSE
🕑 07 Dec,23 6:30p.m.
Fixed Medical Allowance (FMA) to Pensioners under NPS
🕑 07 Dec,23 9:18a.m.
Lok Sabha Q&A : CGHS cashless treatment facilities in AIIMS & PGIMER
🕑 07 Dec,23 6:44a.m.
Rajya Sabha Q&A : Implementation of the five-day work in banks
🕑 06 Dec,23 9:57p.m.
Employees of autonomous bodies not entitled to same benefits as Govt Employees
🕑 06 Dec,23 7:15p.m.
Rajya Sabha Q&A: Clarifying Pay Disparity between CCS(RP) Rules 2008 & 2016
🕑 06 Dec,23 7:11p.m.
Guidelines on Acceptance of Awards by Government servants
🕑 08 Dec,23 11p.m.
DoT to discontinue paper-based KYC for enrolling mobile users from Jan
🕑 08 Dec,23 10:42a.m.
No hike in EMIs. RBI keeps repo rate unchanged at 6.5%
🕑 07 Dec,23 12:47p.m.
BJP’s electoral success casts doubt on reverting to old pension system
🕑 07 Dec,23 7:01a.m.
Discover 8 Financial Benefits for Central Govt Employees Post-Retirement
🕑 03 Dec,23 3:49p.m.
BJP's Victory: Boon or Bane for Central Government Employees?
🕑 19 Nov,23 10:17a.m.
Understanding the Andhra model of guaranteed pension system
🕑 11 Nov,23 11:02p.m.
Deceased govt employees’ spouses now eligible for Sr. Citizen Saving Scheme
🕑 08 Nov,23 10:12p.m.
DOP&PW poblishes compendium of pension related instructions