India`s wholesale prices up 0.79% |
India`s wholesale prices rose a faster-than-expected 0.79% in May 2016 from a year earlier, mainly driven by higher food prices. The data compared with a 0.42% annual rise forecast by economists in a Reuters poll.Except taxing the people with higher rates of increasing the excise duty on petrol and diesel, government of India has become a silent spectator of raising prices of food grains and pulses. In April,prices rose a provisional 0.34%, their first gain in 18 months. Wholesale food prices last month rose 7.88% year-on-year, compared with a provisional 4.23% gain in April.
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