Inflation rises to 0.83% for week ended 19 Sept

Inflation rises to 0.83% for week ended 19 Sept

New Delhi: India’s wholesale price index rose 0.83% in the 12 months to 19 September, above previous week’s annual rise of 0.37%, government data showed on Thursday.

It compared with a median forecast of a 0.7% rise in a Reuters poll.

The annual inflation rate was 12.13% during the corresponding week of 2008.

On Tuesday, the finance ministry’s chief economic adviser said WPI inflation could hit 6 percent by the end of the fiscal year in March, above the central bank’s July forecast of around 5%.

Private sector economists have said inflation could reach as high as 8% by the end of March.

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 released weekly.