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.
🕑 31 Oct, 2024 10:09 AM
Govt email IDs not to be used forfor social media. New guideline
🕑 21 Oct, 2024 08:52 PM
Finance Ministry order on July 2024 DA enhancement
🕑 16 Oct, 2024 09:57 PM
Cabinet approves 3% DA hike from July 2023.
🕑 11 Oct, 2024 07:19 PM
Wait for DA hike cabinet approval getting longer
🕑 11 Oct, 2024 07:14 PM
Government Announces New NPS Contribution Guidelines for CG Employees
🕑 11 Oct, 2024 07:02 PM
PM directs action against non-performing or corrupt government employees
🕑 11 Oct, 2024 11:12 AM
Ad-hoc Bonus for 2023-24 for Central Government employees announed
🕑 10 Oct, 2024 05:35 PM
8th Pay Commission may reintroduce DA merger to Basic Pay at 50%
🕑 02 Nov, 2024 09:12 AM
EPFO board will meet on Nov 23 to approve Central Pension Payment System
🕑 04 Oct, 2024 10:05 AM
PFRDA introduces Balanced Life Cycle Fund option
🕑 08 Aug, 2024 11:46 AM
RBI Keeps Key Interest Rate Unchanged to Tackle Inflation
🕑 23 Jun, 2024 08:47 AM
8th Pay Commission: How much pay hike central govt employees expect?
🕑 20 Jun, 2024 05:59 PM
Finance Minister May Increase Income Tax Exemption in Budget 2024
🕑 18 Jun, 2024 03:34 PM
The Impact and Expectations Surrounding the 8th Central Pay Commission
🕑 07 Jun, 2024 10:13 AM
Indian Members of Parliament: Compensation and Benefits
🕑 10 Apr, 2024 08:35 AM
Kendriya Vidyalaya Sangathan Admission Guidelines 2024-2025
🕑 05 Apr, 2024 01:23 PM
Kendriya Vidyalaya Balvatika Admission Schedule - 2024-25