New Delhi: India’s wholesale price index rose 4.28% in the 12 months to June 9, lower than the previous week’s increase of 4.80%, due to a decline in food prices, government data showed on Friday.
The annual inflation rate was the lowest in more than a year. It was lower than a median forecast of 4.43% in a Reuters poll of analysts.
The annual inflation rate was 5.29% during the corresponding week of the previous year.
The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is published weekly.