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Financial News: India Wholesale Price Inflation Rises In December

India Wholesale Price Inflation Rises In December

01/14/2020 - 04:01:00 (RTTNews)

(RTTNews) - India's wholesale prices rose at a faster-than-expected rate in December, data from the Ministry of Commerce & Industry showed on Tuesday.

The wholesale price index rose 2.59 percent year-on-year in December, following a 0.58 percent increase in November. Economists had expected a 2.42 percent rise.

Build up inflation in the financial year was 2.42 percent compared to 2.92 percent in the corresponding period of the previous year.

Food price inflation accelerated to 13.24 percent in December from 11.08 percent in November. Prices for non-food articles rose 7.72 percent.

Meanwhile, fuel and power prices declined 1.46 percent after a 7.32 percent slump, and prices of manufactured products fell 0.25 percent.

On a monthly basis, the wholesale prices rose 0.4 percent in December.

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