India’s wholesale inflation quickens

India's wholesale inflation rose to 11.39 percent year-on-year in September, according to official figures that Business Recorder reported from New Delhi. The rate was above the 9.92 percent recorded a month earlier. It also came in ahead of the 10.18 percent average projection that economists gave in a Reuters poll.

Government data released on Wednesday showed that the faster pace was led by higher oil and food costs. Wholesale food prices climbed 8.66 percent in September, compared with a 7.05 percent gain in August. Manufactured goods prices went up 9.76 percent, having risen 8.37 percent a month earlier.

Fuel and power prices rose 25.85 percent in the month, up from 22.93 percent in August. Within that group, petroleum and natural gas prices surged 57.32 percent, following a 34.41 percent rise in the previous month.