Wholesale inflation accelerates to 3.55% in July
16/08/2016 12:43
India’s wholesale prices rose at the fastest pace in nearly two years in July 2016 driven by a jump in prices of food items, leaving little monetary easing space for the Reserve Bank of India (RBI) in the near-term.
The country’s wholesale inflation climbed to 3.55 per cent in July 2016 from 1.62 per cent in June 2016, government data showed on Tuesday.
Analysts were expecting wholesale prices in Asia’s third biggest economy to rise by 2.55 per cent in July 2016 from the same month a year ago.
Wholesale food prices climbed a whopping 11.82 per cent in July 2016 from the year ago month, compared to an annual gain of 8.18 per cent in June 2016, amidst a surge in prices of pulses and vegetables.
The latest data comes on the back of Friday’s consumer inflation numbers which also showed a pickup in inflationary pressures.
Retail inflation, the RBI’s benchmark price gauge, accelerated to a two-year high of 6.07 per cent in July 2016 from 5.77 per cent in June 2016. Consumer inflation has now crossed 6 per cent, the upper limit of the government’s official inflation target of 4 per cent, plus or minus 2 percentage points.
16/08/2016 12:43
The country’s wholesale inflation climbed to 3.55 per cent in July 2016 from 1.62 per cent in June 2016, government data showed on Tuesday.
Analysts were expecting wholesale prices in Asia’s third biggest economy to rise by 2.55 per cent in July 2016 from the same month a year ago.
Wholesale food prices climbed a whopping 11.82 per cent in July 2016 from the year ago month, compared to an annual gain of 8.18 per cent in June 2016, amidst a surge in prices of pulses and vegetables.
The latest data comes on the back of Friday’s consumer inflation numbers which also showed a pickup in inflationary pressures.
Retail inflation, the RBI’s benchmark price gauge, accelerated to a two-year high of 6.07 per cent in July 2016 from 5.77 per cent in June 2016. Consumer inflation has now crossed 6 per cent, the upper limit of the government’s official inflation target of 4 per cent, plus or minus 2 percentage points.
