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    Coal, Electricity Prices Eased While WPI Hikes In April From March 2022: Report


    May 17, 2022 - BW Online Bureau

     

      In an analysis report by Bank of Baroda, WPI for April 2022 has come in at 15.1 per cent, up from 14.5 per cent in March 2022. This is the highest print on record in the current (2011-12) series. All sub-heads (food, fuel, and manufacturing) registered an acceleration in inflation in Apr'22, with fuel and power inflation noting the sharpest increase.

      The report says that the food inflation in Apr'22 is at its highest (8.9 per cent) since Jan'22 (9.6 per cent) and has moved up from 8.7 per cent in Mar'22. This is led by jump in prices of vegetables (23.2 per cent in Apr'22 versus 19.9 per cent in Mar’22), fruits (10.9 per cent versus 10.6 per cent), milk (5.1 per cent versus 2.9 per cent), and spices (14.6 per cent versus 13.8 per cent).

      There was also pressure on food inflation from rising prices of paddy (1.5 per cent versus 1.1 per cent). On the other hand, protein-based items (eggs, meat & fish) witnessed moderation in prices.

      Fuel and power inflation in Apr'22 rose to 38.7 per cent from 34.5 per cent in Mar'22, led by increase in the mineral oil index (62.5 per cent versus 50.1 per cent in Mar'22). Within mineral oils, price increase was mostly broad-based (barring Bitumen). Pressure was most visible in items like kerosene, ATF and furnace oil. On the other hand, both coal and electricity prices eased. Coal prices moderated to 2.8 per cent in Apr'22, from 3.2 per cent in Mar'22, while electricity index was down to 10 per cent from 21.8 per cent in the previous month.

      As per the ore inflation in Apr’22 accelerated for the third consecutive month to 11.1 per cent from 10.9 per cent in Mar’22. Manufactured products inflation was also up at 10.9 per cent in Apr'22 from 10.7 per cent in Mar’22.

      Of the 22 commodity indices, 12 indices rose at a faster pace in Apr’22 than Mar'22 led by paper products, fabricated metal products, other manufacturing items, electrical equipment, and other non-metallic mineral products. Pace of increase in international commodity prices had slowed significantly to 1 per cent (MoM) in Apr'22 compared with 4 per cent increase seen in Mar'22, and has moderated further in May'22 so far (-1.3 per cent).

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