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India Wholesale Price Index Rises More Than Expected

India’s wholesale price inflation rose slightly in February and exceeded expectations, data from the Ministry of Commerce & Industry showed on Thursday.

Wholesale price inflation rose to 2.93 percent year-on-year in February, following a 2.76 percent climb in January. That was above economists’ expectation of 2.8 percent.

The build-up inflation rate in the financial year so far was 2.75 percent compared to a build up rate of 2.56 percent a year ago, the ministry said.

On a monthly basis, the wholesale price index rose 0.3 percent in February.

Prices in the primary articles group decreased 0.2 percent. Within that food prices fell 0.2 percent, while non-food prices rose 1 percent.

Fuel and power group registered price growth of 1.7 percent. Prices for manufactured products grew 0.2 percent.

The material has been provided by InstaForex Company – www.instaforex.com