In April, wholesale price-based inflation dropped to -0.92% on a yearly basis, down from 1.34% in March, according to the Department for Promotion of Industry and Internal Trade under the Ministry of Commerce & Industry. This decrease was greater than the estimated 0.2% decline from a Reuters poll. The month-to-month change in WPI for April 2023 compared to March 2023 remained unchanged at 0.0%.
For the 11th consecutive month, WPI-based inflation has continued to decline in April. The decline in inflation was widespread, primarily due to lower prices of crude oil, energy, non-food items, and food articles. In April, the rate of inflation for primary articles decreased to 1.60% compared to 2.40% in March.
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