India's wholesale inflation rate surged to its highest point in six months during December, according to provisional figures released by the Ministry of Commerce and Industry on Tuesday.
The Wholesale Price Index (WPI) climbed 2.37% year-over-year in December, marking a sharp increase from the 1.89% recorded in September. Market analysts had anticipated a rise to 2.30%.
In December, primary article prices experienced a more significant increase, growing at a rate of 6.02%, compared to a 5.49% rise in the previous month. Additionally, the annual price growth for manufactured products accelerated to 2.14% from 2.00%.
Although food price inflation remained notably high, it slightly eased to 8.89%, down from 8.92%. Conversely, the decline in fuel and power costs moderated to 3.79%, compared to a previous decrease of 5.83% in November.
On a month-to-month basis, wholesale prices dipped by 0.38% from November, following a 0.45% decrease the prior month.
Notably, data released on Monday indicated that India's consumer price inflation decreased to a four-month low of 5.22% in December, down from 5.48% in November. Furthermore, consumer price inflation remained within the Reserve Bank of India's medium-term target range of 2-6%.
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