Wholesale price index inflation rises to 42-month high of 8.3%

Wholesale inflation surged to a 42-month high in April as elevated crude prices rippled through fuel, transportation and manufactured products. Data released by the commerce and industry ministry Thursday showed that the wholesale price index (WPI) touched 8.3% in April, up from 3.9% in March.Crude petroleum prices climbed 88% in April, leading to a surge in prices of fuel products. Petrol inflation accelerated to 32.4% from 2.5%, while diesel inflation rose to 25.2% from 3.3%. LPG shifted from a 1.5% contraction in March to a 10.9% increase in April. Manufactured products, which account for nearly 64% of the WPI, saw a broad-based increase.