India Wholesale Inflation at Over 3-Year Low
Wholesale prices in India rose by 0.33 percent year-on-year in September 2019, following a 1.08 percent gain in the previous month and compared with market expectations of a 0.9 percent gain. It was the lowest wholesale inflation rate since June 2016, when the wholesale prices fell by 0.09 percent.
10/14/2019 8:36:02 AM
Prices of primary articles advanced 5.54 percent, slower than a 6.43 percent gain in a month earlier, amid a softer rise in cost of food articles (7.47 percent vs 7.67 percent), in particular fruit (6.67 percent vs 19.70 percent). In addition, potato prices fell faster (-22.50 percent vs -21.28 percent).
Cost of manufacturing, accounting for about 64 percent of the index declined 0.42 percent in September, after a flat reading in August. Prices of textiles dropped 0.59 percent (after being flat in August). In addition, cost fell faster for chemical & chemical products (-1.42 percent vs -0.42 percent); rubber and plastics (-1.64 percent vs -1.19 percent), and basic metals (-8.23 percent vs -6.09 percent).
At the same time, wholesale prices of fuel products, including petrol, diesel and cooking gas, fell 7.05 percent, after declining 4 percent in the previous month.
On a monthly basis, wholesale prices edged down by 0.08 percent in September, after a 0.17 percent gain in August.