India’s Wholesale Inflation Rises To A Record High Of 14.55%

New Delhi: The wholesale price-based inflation shot to a record-high of 14.55 per cent (Provisional) compared to 7.89 per cent during the corresponding period last year.

This is the 12th consecutive month when WPI inflation remained in double digits beginning April 2021. It was 13.11 per cent last month. Fuel inflation stood at 34.52 per cent, whereas WPI Index for manufactured products stood at 10.71 per cent in March, data released by the Ministry of Finance said on Monday.

The high inflation rate is being attributed to the rise in prices of crude petroleum and natural gas, mineral oils and basic metals, owing to disruption in the global supply chain caused by the Russia-Ukraine conflict.

Notably, the Reserve Bank had kept the key repo rate unchanged for the 11th time in a row at 4 per cent this month, to support growth as well as manage inflationary pressures.