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India WPI rises more than expected in June

Staff Writer | July 15, 2016
Indian wholesale prices rose 1.62 percent year-on-year in June of 2016, following a 0.79 percent gain in May and higher than market consensus of a 1.19 percent increase.
India manufacturing
Indian wholesale prices   After a 0.79 percent gain in May
It was the 3rd straight month of gain as prices of food and manufactured products went up at a faster pace while cost of petrol fell less than in the preceding month.

In June, food prices increased by 8.18 percent from a year earlier, following a 7.88 percent rise in the preceding month.

Among food prices, potatoes recorded the highest increase (+64.48 percent), followed by pulses (+26.61 percent), vegetables (+16.91 percent); egg, meat & fish (+6.67 percent), wheat (+6.83 percent) cereals (+6.32 percent), fruits (+5.97 percent) and rice (+3.37 percent). In contrast, prices declined for: onion (-28.60 percent).

Cost of manufactured products increased by 1.17 percent, as compared to a 0.91 percent rise in the previous month.

Petrol prices dropped by 8.74 percent year-on-year in June, following a 10.86 percent decline in May. In contrast, cost of diesel increased by 1.13 percent, as compared to a 5.01 percent decline in a month earlier.

On a monthly basis, wholesale prices rose 1.4 percent in June, the same pace as in the previous two months.