Inflation in India’s supermarkets has risen to a decade in April as high prices and supply chain disruptions increase investment costs for manufacturers.Wholesale prices rose 15.08% in April since last year, data released by the Department of Trade showed on Tuesday. That is more than the average profit rate of 14.92% in the Bloomberg 14 economics survey. WPI rose to its highest level in September 1991 when printing reached 16.31%.Last week’s figures showed that inflation in the same month increased to eight years.
RBI announcements of interest rates
The Reserve Bank of India announced an unexpected inflation rate earlier this month to reduce inflation which has already broken its 6% tolerance limit this year. For the next monetary policy to come in June, it is expected to raise prices further and revise its 5.7% inflation forecast.According to a Tuesday release, Food prices rose by about 8.35% while petrol and energy prices rose by 38.66%.
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