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INDIA: Wholesale Prices Close To Expectations

INDIA
IndiaGlobalEM BulletBulletAPACEmerging Market NewsRegion

India wholesale prices rose 2.36%y/y, slightly above the consensus 2.30% expectation. The prior outcome was 1.84%y/y. The y/y trend remains within recent outcomes. 

  • Looking at the detail, primary articles rose 8.09% y/y, while wholesale food prices were up 13.54%y/y. Fuel fell though 5.79%y/y, while manufactured products were up 1.50% y/y.
  • The data won't shift the narrative for the RBI. Earlier this week we had stronger Oct headline CPI, which pushed back above 6% y/y. The central bank is likely to be in wait and see mode to determine how persistent this CPI bounce is. Food price inflation will no doubt remain a watch point. 
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India wholesale prices rose 2.36%y/y, slightly above the consensus 2.30% expectation. The prior outcome was 1.84%y/y. The y/y trend remains within recent outcomes. 

  • Looking at the detail, primary articles rose 8.09% y/y, while wholesale food prices were up 13.54%y/y. Fuel fell though 5.79%y/y, while manufactured products were up 1.50% y/y.
  • The data won't shift the narrative for the RBI. Earlier this week we had stronger Oct headline CPI, which pushed back above 6% y/y. The central bank is likely to be in wait and see mode to determine how persistent this CPI bounce is. Food price inflation will no doubt remain a watch point.