India WPI Rises Less Than Expected In March

Indian wholesale prices rose 5.70 percent year-on-year in March of 2017, following a 6.55 percent gain in February and below market estimates of a 5.98 percent rise. A slowdown in cost of manufactured products offset a faster increase in cost of food and petrol.

In March, food prices went up 3.12 percent from a year earlier, following a 2.69 percent gain in the preceding month. Among food, prices of fruits recorded the highest increase (7.62 percent), followed by vegetables (5.70 percent), rice (5.07 percent), cereals (4.97 percent), wheat (4.65 percent), milk (3.23 percent) and egg, meat & fish (3.12 percent). In contrast, cost fell for: potatoes (-17.07 percent), onions (-10.78 percent) and pulses (-6.09 percent). 

Cost of manufactured products increased by 2.99 percent, compared to a 3.66 percent rise in the previous month.

Petrol prices rose 20.56 percent year-on-year, following a 16.72 percent gain in February. Cost of diesel also increased by 26.24 percent,  compared to a 33.14 percent rise in a month earlier.

On a monthly basis, wholesale prices fell 0.1 percent, compared to a 0.5 percent rise in the prior month.

India WPI Rises Less Than Expected In March

Office of the Economic Adviser | Rida Husna |
4/17/2017 8:20:14 AM