India WPI Rises the Least in 5 Months

Indian wholesale prices rose 3.15 percent year-on-year in November of 2016, following a 3.39 percent gain in October while markets expected a 3.10 percent rise. It was the eighth straight month of increase but the lowest figure since June, as a sharp slowdown in prices of food offset a faster increase in cost of manufactured products and petrol.

In November, food prices went up 1.54 percent from a year earlier, following a 4.34 percent  rise in the preceding month. Among food prices, potatoes recorded the highest rise (+36.97 percent), followed by pulses (+21.73 percent), wheat (+10.71 percent), cereals (+7.32 percent); egg, meat & fish (+5.82 percent), rice (+4.80 percent),  fruits (+2.45 percent) and milk (+4.19 percent). In contrast, prices declined for: onion (-51.51 percent) and vegetables (-24.10 percent).

Cost of manufactured products increased by 3.20 percent, compared to a 2.67 percent rise in the previous month.

Petrol prices went up 5.54 percent year-on-year, following a 3.57 percent gain in October. Cost of diesel also increased by 19.36 percent,  compared to a 19.32 percent rise in a month earlier.

On a monthly basis, wholesale prices rose 0.1 percent, the same as in the prior month.

India WPI Rises the Least in 5 Months

Office of the Economic Adviser l Rida Husna |
12/14/2016 6:57:37 AM