India WPI Rises for 1st Time in 18 Months
Indian wholesale prices unexpectedly rose 0.34 percent year-on-year in April of 2016, following a 0.85 percent drop in March and market consensus of a 0.2 percent fall. It is the first increase since November 2014 as prices rose for food and cost of manufactured products while cost of petrol declined at a slower pace.
In April, food prices increased by 4.23 percent from a year earlier, following a 3.73 percent rise in the preceding month. Among food prices, pulses recorded the highest increase (+36.36 percent), followed by potatoes (+35.45 percent); egg, meat & fish (+3.34 percent), milk (+2.83 percent), cereals (+2.64 percent), wheat (+2.22 percent), vegetables (+2.21 percent) and rice (+0.47 percent). In contrast, prices declined for: onion (-18.18 percent), and fruits (-2.38 percent).
Cost of manufactured products increased by 0.71 percent, as compared to a 0.13 percent fall in the previous month.
Petrol prices dropped by 4.18 percent year-on-year, following a 9.87 percent decline in March and cost of diesel decreased by 3.94 percent, as compared to a 9.79 percent decline in March.
On a monthly basis, wholesale prices rose 1.4 percent after gaining 0.3 percent in the previous month.
5/16/2016 11:27:06 AM