India’s wholesale inflation climbs to 9.87 per cent in June

India’s wholesale price inflation rose 9.87 per cent year-on-year in June, driven by higher food prices, even as energy costs eased, government data showed on Tuesday.

The wholesale inflation rate was higher than the 9.68 per cent recorded in May and above economists’ forecast of 9.15 per cent.

Wholesale food prices increased 6.14 per cent year-on-year in June, compared with a rise of 4.49 per cent in May.

Prices of manufactured products rose 7.48 per cent year-on-year in June, unchanged from the 7.48 per cent increase recorded a month earlier.

Fuel and power prices increased 27.41 per cent year-on-year in June, compared with a rise of 30.33 per cent in May.

Petroleum and natural gas prices rose 34.75 per cent year-on-year in June after increasing 61.51 per cent in May.

Producer prices rose 9.57 per cent year-on-year in June, compared with a 9.38 per cent increase in the previous month, according to Reuters’ calculations.