India wholesale prices rise 9.92% year-on-year in August
NEW DELHI: India’s wholesale prices rose 9.92% year-on-year in August, government data showed on Monday, as oil and food prices increased at a faster pace. The print was higher than the 9.78% rise a month ago and economists’ average projection of 9.89% in a Reuters poll. Wholesale food prices rose 7.05% year-on-year in August after rising 6.65% in July. Prices of manufactured products rose 8.37%…
India's wholesale prices surged 9.92% year-on-year in August, according to government data released on Monday, surpassing both the 9.78% increase from the previous month and economists' average forecast of 9.89% in a Reuters poll. The rise was driven by accelerating increases in oil and food prices. Wholesale food prices climbed 7.05% year-on-year in August, up from 6.65% in July, while manufactured products' prices increased 8.37% year-on-year, following a 8.29% rise in the prior month.
Additionally, fuel and power prices saw a notable 22.93% year-on-year surge in August, up from 20.05% a month ago, with petroleum and natural gas prices rising 34.41% year-on-year in August, after a 26.99% increase in July. Producer prices also rose 9.8% year-on-year in August, compared to a 9.57% increase the previous month.
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