NEW DELHI (Reuters) -India’s wholesale prices rose 3.36% in June from a year earlier on the back of higher food prices, government data showed on Monday.
June inflation was slightly lower than the 3.5% expected by economists polled by Reuters but higher than a 2.61% year-on-year rise in May.
Food prices rose 8.68% on year compared with an increase of 7.4% in May. Vegetable prices were up 38.76% on year against a 32.42% rise in the previous month.
Manufactured product prices rose 1.43% year-on-year against a 0.78% increase in the previous month. Fuel and power prices rose 1.03% compared with a 1.35% gain in May.
India’s retail inflation rate rose for the first time in five months in June due to a sharp rise in food prices, government data showed on Friday.
Policymakers have failed to cap prices of key food items, hit by extreme heat and heavy floods in India’s northern states.
(Reporting by Nikunj Ohri and Shivangi Acharya; Editing by Mrigank Dhaniwala)
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