Under primary articles, the index of food articles group rose by 1.9 percent to 139.8 (provisional) from 137.2 (provisional) for the previous month due to higher price of tea (18%), peas/chawali (13%), fruits & vegetables (8%), fish-marine (4%) and pork, paddy and maize (1% each).
The annual rate of inflation, based on monthly WPI, stood at 3.18% (provisional) for the month of April, 2018 (over April, 2017) as compared to 2.47% (provisional) for the previous month and 3.85% during the corresponding month of the previous year.
Oil near multi-year highs as Iran sanctions tighten supply outlook
Everyone in the deal except the U.S. reassured that they will keep their end of the bargain despite Trump's move. This implicit call for regime change was balanced with a willingness to negotiate a new deal with Iran .
As per data released by the Central Statistics Office (CSO), the rate of price rise in the protein rich items like meat and fish inched up in April to 3.59 percent, as against the previous month of 3.17 percent. Core inflation (manufactured products excluding foods products) was flat at 3.6% in April 2018.
For FSDH Research, inflation figure is expected to drop to 12.43% in April 2018 from 13.34% recorded in the month of March.
Fuel inflation, which has seen an uptick since July, grew at 5.24 percent in April as compared to 5.7 percent last month.
Iran official says Europe has 60 days to give nuclear 'guarantees'
Merkel and French President Emmanuel Macron reached out to Iran last week to urge it stick to its commitments under the accord. Maas acknowledged that they did not have the means to provide assurances for companies planning to do business with Iran.
The index for Manufacture of Other Transport Equipment group declined by 0.4 per cent to 110.2 from 110.6 for the previous month due to lower price of railway brake gear (4 per cent) and motorcycles (1 per cent).
Earlier in the day, the government released data on Inflation based on wholesale prices. However, potato showed the highest rise in price, at 67.94% in April 2018 as compared to April previous year. Going forward, increasing crude oil prices and their cascading impact would be one of the key worry areas for Indian economy, ?
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