Wholesale prices in India declined by 3.1 percent year-on-year in May 2020 and compared with market estimates of a 1.05 percent fall. This was the steepest drop in wholesale prices since November of 2015, amid strict public health measures to contain the spread of coronavirus outbreak. Food prices rose 1.13 percent in May, slowing from a 2.55 percent gain in April, pushed down by onion (6.26 percent vs 73.52 percent), potatoes (52.25 percent vs 59.40 percent), and vegetables (-12.48 percent vs 2.22 percent). At the same time, the cost of fuel and power plunged much faster (-19.83 percent vs -10.12 percent), due to falling crude oil prices. Also, manufacturing cost fell 0.42 percent, mainly due to chemicals and chemical products (-3.92 percent), textiles (-2.76 percent), and paper and paper products (-1.71 percent). In April, wholesale prices could not be computed due to the nonavailability of manufactured product group index.
Producer Prices Change in India averaged 6.92 percent from 1969 until 2020, reaching an all time high of 34.68 percent in September of 1974 and a record low of -11.31 percent in May of 1976. This page provides the latest reported value for - India Wholesale Price Index Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Wholesale Price Index Change - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Office of the Economic Advisor, India
Producer Prices Change in India is expected to be -4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in India to stand at 2.70 in 12 months time. In the long-term, the India Wholesale Price Index Change is projected to trend around 4.50 percent in 2021, according to our econometric models.