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Financial News: India Wholesale Inflation Accelerates Unexpectedly

India Wholesale Inflation Accelerates Unexpectedly

09/14/2021 - 03:22:00 (RTTNews)

(RTTNews) - India's wholesale price inflation accelerated unexpectedly in August, after slowing in the previous month, preliminary data from the Ministry of Commerce & Industry showed Tuesday.

The wholesale price index rose 11.39 percent year-on-year following an 11.16 percent increase in July. Economists had forecast 10.75 percent inflation.

The food index rose 3.43 percent annually in August following a 4.46 percent climb in the previous month.

The manufactured products index rose 11.39 percent after an 11.20 percent increase in July.

Wholesale prices in the fuel and power group were 26.09 percent higher, following a 26.02 percent climb in the previous month.

The primary articles inflation accelerated to 6.20 percent from 5.72 percent.

Compared to the previous month, the WPI rose 1.04 percent in August versus 0.60 percent in July. The monthly inflation was the highest since April, when it was 1.62 percent.

The biggest monthly increase was recorded for primary articles, followed by fuel and power.

Official data showed on Monday that the consumer price inflation eased slightly to 5.30 percent in August from 5.59 percent in July.

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