India's Wholesale Price Inflation Marginally Up In December


NEW DELHI: Even as vegetable prices plummeted 33 pct, India’s annual inflation based on wholesale prices rose marginally to 3.39 percent in December 2016 from 3.15  pct for the month before, due to hardening of manufactured products and fuel prices.

As per data on wholesale price index released by the Central Statistics Office (CSO), the inflation for food articles was (-) 0.70 percent against 1.54 percent in November. For fuels, it was 8.65  pct against 7.07  pct, and for manufactures products, it was 3.67  pct against 3.20  pct.

 The rise in the Index of Industrial Production (IIP) which was aided by a positive base effect, with industrial production having contracted 3.41  pct during December, an year ago.

In November, manufacturing grew at 5.5  pct against a contraction of 4.6  pct a month ago, while growth in mining output and electricity generation also picked up to grow at 3.9  pct and 8.9  pct respectively.

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Source: IANS