The Ministry of Commerce and Industry said that the growth rate of wholesale prices in India accelerated in September, helped by higher prices for food and primary articles.
The wholesale price index rose by 1.84% per annum in September after an increase of 1.31% per annum in August. It marked the 11th consecutive month of wholesale inflation, with price growth accelerating for the first time in three months. Economists had expected the wholesale price index to increase by 1.9% per annum.
The data showed that the price increase for primary articles accelerated to 6.59% per annum from 2.42% per annum in August, and food prices rose by 9.47% (the largest increase since August 2022) after an increase of 3.26% per annum. Meanwhile, the price growth for industrial goods slowed to 1.0% (a 4-month low) from 1.22% per annum in August, and fuel & power prices dropped the most in 10 months - by 4.05% per annum after a decrease of 0.67% per annum.
On a monthly basis, the wholesale price index was almost unchanged (+0.06%) after falling by 0.52% in August.