By Shivangi Acharya and Sarita Chaganti Singh
NEW DELHI, May 14 (Reuters) – India’s wholesale price inflation rose unexpectedly to 8.3% year-on-year in April, its fastest in three-and-a-half years, government data showed on Thursday, driven by a surge in energy prices caused by the Middle East conflict.
The reading was sharply higher than the 3.88% rise in March and economists’ projection of 4.4%, according to a Reuters poll.
India’s wholesale inflation last rose at a quicker pace of 8.67% in October 2022.
• Fuel and power prices increased 24.71% year-on-year in April, against a rise of 1.05% in March
• Wholesale food prices rose 2.31% year-on-year in April after advancing 1.85% in March
• Vegetable prices increased 0.53% year-on-year in April compared with a 1.45% year-on-year increase a month earlier
• Prices of manufactured products rose 4.62% year-on-year in April after a 3.39% year-on-year rise in the previous month
(Reporting by Shivangi Acharya; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)
