India's wholesale price index increased by 3.85 percent in April, down from an increase of 5.29 percent in March (revised from 5.70 percent following a change in the base year for calculations from 2004/05 to 2011/12). WPI inflation in April was at its lowest level since December. The WPI fell 0.18 percent on the month in April.
The drop in WPI inflation in April was broad-based, with most major categories recording weaker year-on-year price increases. Prices for manufactured goods, which account for around 64 percent of the index, rose 2.66 percent on the year in April, down from 3.03 percent in March, while the year-on-year increase in prices for food articles, around 15 percent of the index, moderated from 3.82 percent to 1.16 percent. Prices for fuel and power, around 13 percent of the index, also moderated, rising 18.52 percent on the year in April, down from an increase of 23.66 percent in March.
Consumer price index data for April are scheduled for release later today.