India wholesale prices rise 9.92% year-on-year in August

Business Recorder reported that India's wholesale prices rose 9.92% year-on-year in August, according to government data released on Monday. The reading came in above July's 9.78% increase and the 9.89% average forecast in a Reuters poll of economists. Oil and food prices rose at a faster pace, the data showed.

Wholesale food prices grew 7.05% year-on-year in August, up from 6.65% in July. Manufactured goods rose 8.37%, compared with 8.29% a month earlier. Fuel and power costs climbed 22.93%, up from 20.05% a month earlier, while petroleum and natural gas prices jumped 34.41% after a 26.99% rise in July.

Separately, Reuters calculations put producer prices at 9.8% in August, against 9.57% in the prior month. The report also cited India's August retail inflation at 4.82%.