Wholesale inflation in India surges to 2.61%, highest in 15 months
The Business Guardian|June 15, 2024
India's wholesale inflation, sale Price Index (WPI), surged to a 15-month high of 2.61% in May, up from 1.26% in April.
Wholesale inflation in India surges to 2.61%, highest in 15 months

This sharp increase was primarily due to an adverse base effect and a significant rise in food prices. In May 2023, wholesale inflation had been at -3.61%.

Key Drivers of Inflation The inflation in food prices stood notably high at 9.82% during the month. The Ministry of Commerce and Industry released data on Friday indicating that the uptick in factory gate inflation in May was driven by major subindices other than fuel and power, which saw either a higher year-on-year inflation print or a lower deflation.

Within food articles, the pressure on factory gate prices was primarily due to a substantial acceleration in the prices of vegetables (32.42%), pulses (21.95%), cereals (9.01%), fruits (5.81%), and wheat (6%). Despite a deceleration in the prices of potatoes (64.05%), onions (58.05%), and paddy (11.79%), they remained considerably elevated. Meanwhile, prices of protein-rich items like eggs & meat (0.68%) and milk (3.61%) provided some relief.

Impact of Weather and Agricultural Trends

Esta historia es de la edición June 15, 2024 de The Business Guardian.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición June 15, 2024 de The Business Guardian.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE THE BUSINESS GUARDIANVer todo
The Business Guardian

Odisha startup launches autonomous drone service

Bon V Aero has launched a fully autonomous logistics drone service called Air Orca.

time-read
1 min  |
November 11, 2024
ITI Ltd gets orders worth Rs 4,559 cr
The Business Guardian

ITI Ltd gets orders worth Rs 4,559 cr

With this, ITI Limited has emerged as the lowest bidder for three packages taking the total order value to Rs 4,559 crores, the company informed stock exchanges in a filing on Sunday.

time-read
1 min  |
November 11, 2024
Trump presidency set to benefit India due to US-China rivalry: Moody's Ratings
The Business Guardian

Trump presidency set to benefit India due to US-China rivalry: Moody's Ratings

Trump's trade policy approach would likely bring immediate impacts to the manufacturing sector, the Moody's Ratings said, adding that although a divided Congress might slow down or adjust the scope of such measures.

time-read
1 min  |
November 11, 2024
The Business Guardian

EPFO clears audit Backlog, pushes reforms ahead of 72nd Foundation Day

Labour Secretary and Chairperson of Executive Committee, Central Board, Employees' Provident Fund Organization (EPFO), Sumita Dawra, presided over the 109th Meeting of the Executive Committee this week in the national capital.

time-read
1 min  |
November 11, 2024
Biz as usual in Canada despite tensions between New Delhi, Ottawa: SBI
The Business Guardian

Biz as usual in Canada despite tensions between New Delhi, Ottawa: SBI

State Bank of India (SBI) has not seen any impact in Canada despite the ongoing tensions between New Delhi and Ottawa, a top bank official has said.

time-read
1 min  |
November 11, 2024
The Business Guardian

FMCG brands drive premiumisation amid inflation

Despite persistent inflation and sluggish demand, several leading FMCG and retail brands are doubling down on their premiumization strategies, reshaping their approach to appeal to discerning customers.

time-read
1 min  |
November 11, 2024
Supreme Court Issued Notice To Delhi Tree Authority And Officers: What Procedure Followed In Tree Felling?
The Business Guardian

Supreme Court Issued Notice To Delhi Tree Authority And Officers: What Procedure Followed In Tree Felling?

The Supreme Court in the case MC Mehta versus The Union Of India And Ors observed and has issued notice to the Tree Authority and the Tree Officers who are being appointed under the Delhi Preservation of Trees Act, 1994, in a petition filed seeking to prevent the Delhi government in order to permit tree felling under the Act without prior permission from the court.

time-read
2 minutos  |
November 11, 2024
SC: LIS PENDENS DOCTRINE KICKS IN WHEN PETITION IS FILED AND NOT WHEN COURT ISSUED NOTICE; IT APPLIES EVEN IF PETITION WAS IN DEFECT
The Business Guardian

SC: LIS PENDENS DOCTRINE KICKS IN WHEN PETITION IS FILED AND NOT WHEN COURT ISSUED NOTICE; IT APPLIES EVEN IF PETITION WAS IN DEFECT

The bench comprising of Chief Justice of India DY Chandrachud, Justice JB Pardiwala and Justice Manoj Misra was hearing the present matter.

time-read
3 minutos  |
November 11, 2024
The Business Guardian

Delhi High Court: Cannot Approve MCD Not Paying Wages, Retiral Benefits To Its Employees; If They Default Must Suffer Interest

The Delhi High Court in the case Municipal Corporation of Delhi Versus Bijender Singh observed and has stated that it can never be an approver to the Municipal Corporation of Delhi, MCD for not paying wages or retiral benefits to its employees.

time-read
1 min  |
November 11, 2024
Delhi High Court To Centre: Take Policy Decision On Guidelines For Foreigners With Criminal Cases And Expired Indian Visas
The Business Guardian

Delhi High Court To Centre: Take Policy Decision On Guidelines For Foreigners With Criminal Cases And Expired Indian Visas

The Delhi High Court in the case Court On Its Own Motion v State observed and has asked the Union Government to take a policy decision as to whether certain guidelines ought to be framed at national level in respect of foreigners against whom criminal cases are lodged and whose Indian visas have expired.

time-read
1 min  |
November 11, 2024