Team Blitz India
NEW DELHI: Wholesale prices in India fell for the first time in almost three years in April, as softening global commodity prices brought down food, fuel, and other input costs for producers.
WPI inflation has been on a declining trend for the last 11 months and came in at (-) 0.92 per cent in April.
This is the lowest level of wholesale price index (WPI) since June 2020, when inflation was at (-) 1.81 per cent.
A negative WPI inflation, technically termed as deflation, means that overall wholesale prices have been falling year-on-year.
“Decline in the rate of inflation in April, 2023 is primarily contributed by fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products and paper & paper products,” the commerce and industry ministry said on May 15.
