The annual headline consumer price index (CPI) in April rose for the first time in 14 months due to higher oil and food prices in addition to the ending of government subsidies on utilities, the commerce ministry said on Wednesday.
The headline April CPI increased a more than expected 3.41% from a year earlier, also the fastest pace in more than eight years, beating a forecast for a rise of 2.50% in a Reuters poll.
The index is likely to increase further in May, unless the government brings in additional subsidies on utilities, as energy prices remain high and after coming off a very low base level last year, the ministry said in a…