India Wholesale Inflation at 4-Month High of 5.28%

Wholesale prices in India rose by 5.28 percent year-on-year in October 2018, after a 5.13 percent gain in the prior month and above market estimates of 5 percent. It was the highest wholesale inflation since June, as cost advanced faster for fuel and manufactured products.

In October, cost went up at a faster rate for fuel & power (18.44 percent vs 16.65 percent) and manufactured products (4.49 percent vs 4.22 percent in September), amid higher prices of basic metals (13.80 percent vs 12.78 percent), food products (1.01 percent vs 0.78 percent), chemical & chemical products (7.60 percent vs 7.19 percent) and textiles (5.59 percent vs 5.04 percent). 

Contrarily, prices of primary articles slowed to 1.79 percent (from a 2.97 percent rise in a month earlier), as cost of food dropped further (-1.49 percent vs -0.21 percent), namely eggs, meat & fish (-0.59 percent vs -0.52 percent), vegetables (-18.65 percent vs -3.83 percent) and onion (-31.69 percent vs -25.23 percent).

On a monthly basis, wholesale prices rose 0.7 percent, the same as in September.

India Wholesale Inflation at 4-Month High of 5.28%

Office of the Economic Adviser l Rida |
11/14/2018 12:11:30 PM