India’s wholesale prices decreased less-than-expected in December and the pace of decline slowed for a fourth straight month, data from the Ministry of Commerce & Industry showed Thursday.
The wholesale price index fell 0.73 percent year-on-year following a 1.99 percent decrease in November. Economists had forecast a 1.15 percent slump.
Official data released on Tuesday showed that consumer price inflation accelerated for a fifth straight month in December. The consumer price index rose a faster-than-expected 5.61 percent year-on-year following 5.41 percent in November.
Food price inflation rose to 6.40 percent from 6.07 percent. The Reserve Bank of India has projected retail inflation to reach 6 percent in January.
The build-up WPI inflation rate in the financial year so far was 0.74 percent compared to a build up rate of -0.89 percent in the corresponding period of the previous year, the ministry said.
The primary articles inflation accelerated to 5.48 percent from 2.27 percent. Within this category, food articles inflation rose to 8.17 percent from 5.20 percent.
The inflation rate for the fuel and power group rose to -9.15 percent from -11.09 percent.
The manufactured products group, which holds the maximum weight of 64.97 percent in the index, saw the inflation rate edge up to -1.36 percent from -1.42 percent.
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