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WPI inflation slips to 3.07% in April, food prices still high

The Wholesale Price Index (WPI)-based inflation was at 3.18 percent in March. It was 3.62 percent in April 2018.

WPI inflation slips to 3.07% in April, food prices still high

New Delhi: Wholesale price-based inflation slipped to 3.07 percent in April on cheaper fuel and manufactured items, even as prices of food articles remained high, according to an official data released Tuesday.

The Wholesale Price Index (WPI)-based inflation was at 3.18 percent in March. It was 3.62 percent in April 2018.

Inflation in food articles hardened with steep rise in prices of vegetables during April.

Vegetables inflation was at 40.65 percent in April, up from 28.13 percent in the previous month.

Inflation in food articles basket was 7.37 percent, up from 5.68 percent in the previous month.

Inflation in 'fuel and power' category cooled to 3.84 percent, from 5.41 percent in March. Manufactured items too saw easing of prices with inflation at 1.72 percent in April, against 2.16 percent in March.

The Reserve Bank, which mainly factors in retail inflation for monetary policy decision, had last month cut interest rate by 0.25 percentage points.

Retail inflation inched up to a six-month high of 2.92 percent in April due to a spike in food prices, including vegetables, meat, fish and eggs, data released on Monday showed.

For April-September period, the RBI has projected retail inflation at 2.9-3 percent, mainly due to lower food and fuel prices as well as expectation of a normal monsoon.

The Monetary Policy Committee headed by the RBI Governor would be meeting early June for second monetary policy review for the fiscal.