Monday, 15 October, 2018

WPI inflation rises to 3.18 pc in April on costlier fuel, fruits

Retail inflation accelerates to 4.58% in April Analysts expect Nigeria's inflation rate to drop to its lowest
Jean Garcia | 14 May, 2018, 21:05

India's wholesale price inflation stood at 3.18% for the month of April 2018, corresponding to the same month in the preceding year, the Ministry of Commerce and Industry said on Monday.

The National Bureau of Statistics is expected to release Consumer Price Index (CPI) data for April 2018 this week ahead of the Central Bank of Nigeria monetary policy committee meeting slated for May 21 and 22, 2018. The CSO data further revealed that inflation in the fuel and light segment also came in lower at 5.24% month-on-month basis.

The index for Manufacture of Motor Vehicles, Trailers and Semi-Trailers group rose by 0.2 per cent to 111.2 from 111.0 for the previous month due to higher price of release valve (3 per cent), crankshaft (2 per cent) and cylinder liners, ignition device, wheels/wheels & parts, shafts of all kinds, chassis of different vehicle types and passenger vehicles (1 per cent each).

Fuel inflation, which has seen an uptick since July, grew at 5.24 percent in April as compared to 5.7 percent last month.

EPL: Salah wins Golden Boot ahead of Kane
Speaking to Liverpool's official website, Lovren said: "Every year it's getting more hard to get into the top four". Badou Ndiaye and Peter Crouch scored the goals for Stoke , who will join the Swans in the Championship next season.

According to the government data, fuel and power inflation stood at 7.85 per cent in April compared to 4.70 per cent in March this year. Overall, inflation in the food basket remained flat at 2.8 percent month-on-month. "Increase in this group's inflation is mirroring the movement of crude prices and currency value", Devendra Kumar Pant, Chief Economist at India Ratings said, adding that housing and rising oil prices are likely to keep pressure on headline inflation in coming months.

Nigeria's headline inflation is projected to drop below 13% in April, the 15th consecutive monthly decline and the lowest point since March 2016, analysts have predicted.

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Reversing the declining trend, retail inflation moved up to 4.58% in April due to hardening in prices of cereals, meat, fish and fruits.

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