India's WPI inflation declines to 0.92% in April 2023

India's annual Wholesale Price Index (WPI) declined for the first time in nearly 3 years in April.

India's WPI number is (-) 0.92% (Provisional) for the month of April 2023 (over April 2022) against 1.34% recorded in March 2023. 

According to the data released by Commerce Ministry, the decline in the rate of inflation in April 2023 is primarily contributed by the fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products and paper & paper products.

In April, the food index rose 0.17% year-on-year, from 2.32% in March, while fuel and power rose 0.93% from 8.96%.

WPI has been easing for the last 11 months from the 20-year highs of 16.63% recorded in May 2022, the report informed on Monday.

Source: Media reports