The Wholesale Inflation turns negative for April 2023.
The provisional data for April 2023 shows a negative inflation rate of (-) 0.92% based on the All India Wholesale Price Index (WPI), compared to a rate of 1.34% in March 2023.
As per the Ministry of Commerce & Industry, the decrease in inflation is mainly attributed to the decline in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products, and paper & paper products.
The month-over-month change in WPI for the month of April 2023 over March, 2023 remained at 0.0%, the ministry further noted.
In April 2023, the index for the primary articles rose by 1.31% to 177.3 (provisional), compared to 175.0 (provisional) in March 2023. Crude Petroleum & Natural Gas (3.47%), Minerals (2.30%), and Food Articles (1.45%) experienced price increases in April 2023 compared to March 2023
