India’s wholesale prices dropped at a faster pace in April, falling for the sixth consecutive month, provisional data from the Ministry of Commerce and Industry showed Wednesday.
The wholesale price index dropped 2.65 percent year-on-year in April, faster than March’s 2.33 percent fall. It was also bigger than a 2.30 percent decrease forecast by economists.
Primary articles inflation turned negative in April for the first time in five months. The figure dropped to -0.25 percent from 0.08 percent in March.
The wholesale price inflation for food slowed to 5.73 percent from 6.31 percent.
In April, fuel and power prices plunged 13.03 percent, after a 12.56 percent slump in the previous month. Manufactured product prices logged an annual fall of 0.52 percent.
On a monthly basis, wholesale prices declined only 0.06 percent in April.
The build up inflation rate in the financial year so far was -0.06 percent compared to 0.28 percent in the corresponding period of the previous year.
Data released earlier this week showed that annual consumer price inflation eased to a four-month low of 4.87 percent in April from 5.25 percent in March.
The material has been provided by InstaForex Company – www.instaforex.com