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Financial News: India Wholesale Price Inflation Eases In December

India Wholesale Price Inflation Eases In December

01/14/2022 - 02:42:00 (RTTNews)

(RTTNews) - India's wholesale prices rose at a slower annual pace in December, preliminary official data showed Friday.

The wholesale price index rose 13.56 percent year-on-year following a 14.23 percent increase in November. Economists had forecast 13.50 percent inflation. In October, inflation was 13.83 percent.

The food index rose 9.24 percent annually after a 6.70 percent increase in the previous month.

The high rate of inflation in December was primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals, food products, textile and paper products etc. as compared to the corresponding month of the previous year, the government said.

The primary articles inflation rose to 13.38 percent from 10.34 percent in November.

The fuel and power index climbed 32.30 percent annually after a 39.81 percent increase in the previous month.

The manufactured products index rose 10.62 percent year-on-year following an 11.92 percent climb in November.

On a month-on-month basis, the wholesale price index fell 0.35 percent in December after a 1.56 percent increase in November.

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