WPI Inflation Spikes to 8.30% in April, Fuelled by Soaring Crude Oil Prices

India’s wholesale price inflation saw a significant surge, hitting 8.30% in April, up from 3.88% in March, primarily driven by soaring fuel, power, and crude oil prices amidst the ongoing West Asia crisis. The Wholesale Price Index (WPI) inflation was fueled by higher prices of mineral oils, crude petroleum, natural gas, basic metals, manufactured products, and non-food articles. The fuel and power segment witnessed the steepest increase, with inflation jumping to 24.71% in April from 1.05% in March. Mineral oil prices rose 29.37% month-on-month, while petrol and high-speed diesel inflation surged to 32.40% and 25.19%, respectively. Crude petroleum inflation skyrocketed to 88.06%.
Primary articles inflation increased to 9.17%, and manufactured products inflation rose to 4.62%. Food index-based wholesale inflation edged higher to 2.31%. Despite global crude oil price hikes, the government maintained retail petrol and diesel prices to shield consumers, though commercial LPG cylinder prices were increased .