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India wholesale inflation rises to 3-month high of 3.18%

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Christian Fernsby |
India wholesale
Asia   It was the highest wholesale inflation rate since December last year

Wholesale prices in India rose by 3.18 percent year-on-year in March 2019, accelerating from a 2.93 percent rise in the prior month while markets had expected 3.2 percent.

It was the highest wholesale inflation rate since December last year, as prices advanced faster for both food and fuel.

In March, cost of primary articles increased by 5.07 percent, faster than a 4.84 percent in a month earlier, in particular vegetables (28.13 percent vs 6.82 percent), while prices continued to rise for: cereals (8.92 percent vs 9.76 percent), wheat (10.13 percent vs 12.29 percent) and pulses or grain legumes (10.63 percent vs 10.88 percent).

In addition, prices of food articles went up by 5.68 percent in March, after a 4.28 percent increase 2.34 percent in February.

Also, cost of fuel went up 5.41 percent, much higher than a 2.23 percent gain in a month earlier.

Meanwhile, cost of manufactured products rose 2.16 percent, slowing from a 2.25 percent rise in February, as prices rose less for basic metals (1.28 percent vs 1.56 percent), chemical & chemical products (3.64 percent vs 3.82 percent) and textiles (3.94 percent vs 4.57 percent).

On a monthly basis, wholesale prices increased by 0.4 percent in March, following a 0.25 percent gain in February.

April 15, 2019

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