Wholesale inflation is also the lowest after retail, declined for the 11th consecutive month

According to the data of the Ministry of Commerce and Industry, the wholesale inflation in the country has come down to minus -0.92 percent in April as compared to 1.34 percent in March. A Reuters poll had forecast a decline of 0.2 percent.

On the front of inflation, the common people have got double relief. On Friday, people got relief in retail inflation and came down to the lowest level of one and a half years. The data of wholesale inflation has come out on Monday and it has come to the lower level of three years while staying below zero. According to the data of the Ministry of Commerce and Industry, the wholesale inflation in the country has come down to minus -0.92 percent in April as compared to 1.34 percent in March. A Reuters poll had forecast a decline of 0.2 percent. April is the 11th consecutive month when wholesale inflation has declined.

How much inflation has come down in which

The government said in the statement that due to the fall in the prices of crude oil, energy prices, non-food and consumer goods, there has been a decrease in wholesale inflation. Primary products inflation was 2.40 percent in the month of March, which has come down to 1.60 percent in April. Fuel and power inflation declined from 8.96 per cent in March and 13.96 per cent in February to 0.93 per cent in April. Inflation in manufacturing products declined from -0.77 per cent in March and 1.94 per cent in February to -2.42 per cent in April.

Lower level or wholesale inflation for three years

In the month of March, wholesale inflation had come down to a 29-month low of 1.34 per cent, as despite costlier food items, there was a decrease in the prices of manufacturing products and fuel. In the month of April, wholesale inflation has come down to the lowest level of 36 months i.e. three years. Retail inflation in India fell sharply to 4.7 per cent or an 18-month low in April, compared to 5.7 per cent in the previous month.

There was no increase in the repo rate

There has been no change in the repo rate in the Reserve Bank of India's April monetary policy meeting. Earlier in the month of February, the repo rate was increased by 0.25 percent. From May 2022 to February 2023, RBI increased the repo rate by 2.50 percent. After which the policy rate in the country came down to 6.50 percent. The inflation tolerance level target in the country is 2 to 6 percent. Retail inflation remained below the upper band of the tolerance level in the months of March and April.