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Financial News: India's Wholesale Price Inflation Accelerates More Than Fo

India's Wholesale Price Inflation Accelerates More Than Forecast

06/14/2018 - 04:00:00 (RTTNews)

(RTTNews) - India's wholesale price inflation accelerated at a faster-than-expected pace in May to the highest level in fourteen months, preliminary data from the Ministry of Commerce & Industry showed Thursday.

Wholesale prices climbed 4.43 percent year-over-year in May, faster than April's 3.18 percent rise. The rate was expected to increase to 4.0 percent.

Build up inflation rate in the financial year so far was 1.38 percent compared to a build up rate of -0.27 percent in the corresponding period of the previous year.

The acceleration in inflation was mainly driven by higher fuel and vegetable prices.

The index for primary articles rose 3.16 percent annually in May and prices of food articles went up by 1.60 percent.

On a monthly basis, wholesale prices increased 0.9 percent in May.

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