India's wholesale inflation surges to 8.3% on oil shock, weak rupee

India's wholesale inflation for April has surged to 8.3% due to an oil shock and a weak rupee. This is a significant increase from the 2.3% in February and 3.9% in March. The rise is largely attributed to the increase in prices of crude oil and mineral oil, which account for almost 10% of the overall wholesale price index basket. The actual number is higher than the expected 5.5% growth in April, as per a Bloomberg poll of economists.