India’s wholesale inflation surges to 8.3% on oil shock, weak rupee
India’s wholesale inflation for April came in at 8.3% according to data released Thursday, providing a reality check after retail inflation numbers released Thursday — 3.48% — suggested that India was immune from the economic pain of the ongoing war in West Asia. The gap between the two reflects the losses being borne by government-owned oil marketers, and indicate that an increase in retail fuel prices may be imminent. Retail inflation numbers — 3.48% — suggest that India was immune from the economic pain of the ongoing war in West Asia. (Reuters) The 4.4 percentage point increase between the March and April prints of the Wholesale Price Index (WPI) is the biggest increase between two consecutive monthly inflation readings in the current WPI series. Even analysts did not expect such a big increase in the WPI numbers. A Bloomberg poll of economists expected April WPI growth at 5.5%, almost three percentage point less than the actual number, perhaps a record miss for the analysts too. Also Read: ‘Shock coming, prepare for the worst’: Industry leader …








