Sudden Jump in WPI inflation worrying: PHD Chamber

Sudden Jump in WPI inflation worrying: PHD Chamber

Sudden Jump in WPI inflation worrying: PHD Chamber

No.PR-27

May 14, 2018

New Delhi

 

Sudden Jump in WPI inflation worrying: PHD Chamber

 

Sudden jump in WPI inflation to 3.18% in the month of April 2018 from 2.47% in March 2018 is worrying, said Mr. Anil Khaitan, President, PHD Chamber of Commerce and Industry in a press statement issued here today.

 

Rise in the prices of fruits and vegetables, fuel and power vis-à-vis increase in international crude oil prices, have stoked the overall WPI inflation, said Mr. Anil Khaitan.

 

Prices of fruits have increased to 19.47% in April 2018 from 9.26% in March 2018 while prices of vegetables have increased to (-)0.89% in April 2018 from (-)2.70% in March 2018.

 

Prices of fuel and power on the other hand have increased to 7.85% in April 2018 from 4.7% in March 2018 due to increase in international crude oil prices to the tune of 13%.

 

We hope that prices should not escalate further as prediction for the good monsoon is intact and stability is expected in the international crude oil process going forward, he said.

 

Further reforms in the agriculture sector and supply chain would provide a great stability in the inflation scenario in the coming times, he added.

Ends.

Koteshwar Prasad Dobhal

Consultant (PR)