Wholesale inflation surges to 42-month high of 8.3% in April on crude spike
New Delhi, May 14 -- India's wholesale inflation surged to a 42-month high of 8.3% in April from 3.88% in March, driven by a sharp rise in fuel, crude petroleum and manufactured product prices.
Fuel and power inflation jumped to 24.71% in April from 1.05% in March, emerging as the biggest contributor to headline wholesale inflation, according to data released by the department for promotion of industry and internal trade (DPIIT) on Thursday.
Inflation in crude petroleum and natural gas surged to 67.18% year-on-year in April, while crude petroleum inflation stood at 88.06%
The wholesale price index (WPI)-based inflation stood at 2.26% in February.
Gaura Sen Gupta, chief economist at IDFC First Bank, said the sharp pick-up in WPI inflat...
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