Inflation in India’s wholesale prices hit a four-month high of | 🙏 भारतीय घटनेचे शिल्पकार

Inflation in India’s wholesale prices hit a four-month high of 14.55% in March, from 13.11% in February

The high inflation was attributed “primarily to rise in prices of crude petroleum and natural gas, mineral oils, basic metals, etc. owing to disruption in global supply chain caused by Russia-Ukraine conflict”, the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade, said in a statement.

The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives. While individual administrative ministries look after the production, distribution, development and planning aspects of specific industries allocated to them, DPIIT is responsible for the overall industrial policy. It is also responsible for facilitating and increasing the foreign direct investment (FDI) flows to the country.

Inflation measures how much more expensive a set of goods and services has become over a certain period, usually a year
What Is a Wholesale Price Index (WPI)?

A wholesale price index (WPI) is an index that measures and tracks the changes in the price of goods in the stages before the retail level. This refers to goods that are sold in bulk and traded between entities or businesses (instead of between consumers)