Wholesale inflation rises to 0.73 pc in December

Wholesale inflation rises to 0.73 pc in December
Customers buy fruits and vegetables at an open air evening market in Ahmedabad, India, August 21, 2023. REUTERS/Amit Dave/File Photo
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NEW DELHI, Jan 15 (Reuters) – India’s wholesale price index in December rose 0.73% year-on-year to a nine-month high, mainly on the back of higher food prices, government data showed on Monday.

The rise in the index (INWPI=ECI) was slower than the 0.9% expected by economists polled by Reuters, but quickened from 0.26% in November.

In December, food prices rose 5.39% year-on-year compared with a rise of 4.69% in November, while manufactured product prices fell 0.71% against a 0.64% fall the previous month.

Fuel and power prices fell 2.41% from a year earlier, compared with a 4.61% drop in November. Prices of primary articles were up 5.78% versus a rise of 4.76% a month earlier.

Last week, government data showed the country’s annual retail inflation rose at the fastest pace in four months in December, driven by a rise in prices of some food items.

T.K.B. Sen

Journalist, media worker, reporter and analyst