India's wholesale price inflation surged in June to its highest level in nearly 18 months, driven by price increases across a broad spectrum of categories, according to provisional data released by the Ministry of Commerce and Industry on Monday.
The Wholesale Price Index (WPI) climbed 3.36 percent year-over-year in June, up from the 2.61 percent increase observed in May. Forecasts from economists anticipated an acceleration to 3.50 percent.
This marks the highest inflation rate since February 2023, when prices had risen by 3.85 percent.
Primary articles saw an 8.80 percent price increase in June, compared to a 7.20 percent rise in the previous month. Similarly, the annual growth in the food index accelerated to 8.68 percent from 7.40 percent.
Manufactured products experienced a cost increase of 1.43 percent, following a 0.78 percent rise in the prior month.
Conversely, the annual price growth in fuel and power moderated to 1.03 percent in June from 1.35 percent in May.
On a month-to-month basis, wholesale prices rose by 0.39 percent, up from a 0.26 percent increase in June.
