India WPI inflation at 8.3% in April hits 42-month high
Business
India's wholesale inflation (WPI) shot up to 8.3% in April, way up from March's 3.88%.
This is the highest WPI inflation reading in 42 months, mostly driven by surging energy prices linked to the ongoing West Asia conflict.
Fuel spikes push wholesale costs higher
Fuel prices went wild: aviation turbine fuel more than doubled, while naphtha, furnace oil, and bitumen all saw sharp hikes. Petrol and diesel got pricier too.
Manufactured goods also became costlier, but food prices stayed relatively calm, except onions, which crashed and hit farmers hard.
Economists warn these rising wholesale costs could soon make everyday things more expensive for everyone.