India WPI Rises Less than Estimated in September

Indian wholesale prices rose 3.57 percent year-on-year in September of 2016, following a 3.74 percent gain in August. It was the sixth straight month of increase and the lowest figure since June while markets expected a 3.90 percent rise. A slowdown in prices of food offset an increase in cost of manufactured products and petrol.

In September, food prices increased by 5.75 percent from a year earlier, following a 8.23 percent rise in the preceding month. Among food prices, potatoes recorded the highest rise (+73.31 percent), followed by pulses (+23.99 percent), fruits (+14.10 percent); egg, meat & fish (7.44 percent), wheat (+7.01 percent), cereals (+6.84 percent), rice (+4.66 percent) and milk (+3.71 percent). In contrast, prices declined for: onion (-70.52 percent) and vegetables (-10.91 percent).

Cost of manufactured products increased by 2.48 percent, compared to a 2.42 percent rise in the previous month.

Petrol prices went up 1.25 percent year-on-year, following a 8.65 percent decline in August. Cost of diesel also increased by 19.08 percent, as compared to a 12.15 percent rise in a month earlier.

On a monthly basis, wholesale prices decreased by 0.2 percent, following a 0.4 percent fall in a month earlier.

India WPI Rises Less than Estimated in September

Office of the Economic Adviser l Rida Husna |
10/14/2016 7:22:33 AM