According to the All India Wholesale Price Index (WPI), the inflation rate for April 2023 was negative (-) 0.92%, down from 1.34% in March 2023.
According to the Ministry of Commerce and Industry, the decline in the price of basic metals, food, mineral oils, textiles, non-food items, chemicals and chemicals, rubber and plastic products, and paper and paper products is primarily responsible for the drop in inflation.
The ministry, furthermore, added that the month-over-month change in WPI for the month of April 2023 over the month of March 2023 stayed at 0.0%.
The index for the primary articles has risen from 175.0 (provisional) in the month of March 2023 to 177.3 (provisional) in the month of April 2023, with an absolute increase of 1.31%.
Minerals (2.30%), Food Articles (1.45%), and Crude Petroleum & Natural Gas (3.47%), all saw price rises in April 2023 compared to March 2023.
However, prices for non-food items (-0.66%) decreased during the same time frame.
In April 2023, the major group index for manufactured goods remained constant at 141.2 (provisional).
The Food Index has climbed from 172.1 in March 2023 to 173.6 in April 2023, consisting of ‘Food Articles’ from the primary articles group and ‘Food Product’ from the manufactured products group. According to the ministry, the WPI Food Index-based year-over-year inflation dropped from 2.32% in March 2023 to 0.17% in April 2023.