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Rise in oil prices may add to inflation woes: India Inc

Press Trust of India  |  New Delhi 

As based on wholesale prices rose to 3.18 per cent in April, Inc today said the cascading impact of rising would be one of the key worry areas for India's going forward.

The Index (WPI) based stood at 2.47 per cent in March and 3.85 per cent in April last year.

said the break down of the April data shows annualised inflation of close to 10 per cent for petrol and over 13 per cent for high speed diesel.

Even more worrying is the fact that these levels are on a very high base in the same month last fiscal. Going forward, increasing and their cascading impact would be one of the key worry areas for Indian economy, Secretary General D S Rawat said.

PHD Chamber of termed the rise in inflation worrisome and hoped that prices do not increase further in the coming months.

According to government data released today, inflation in was at 0.87 per cent in April 2018, as against a deflation of 0.29 per cent in the preceding month.

Deflation in vegetables was 0.89 per cent in April, while in the previous month it was 2.70 per cent.

Inflation in 'fuel and power' basket rose sharply to 7.85 per cent in April from 4.70 per cent in March as prices of domestic fuel increased in line with rising global

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 18:00 IST