16.07.201803:56:00UTC+00India Wholesale Price Inflation Hits 4-1/2 Year High

India's wholesale price inflation accelerated at a faster-than-expected pace in June to the highest level in four-and-a-half years, preliminary data from the Ministry of Commerce & Industry showed Monday.

Wholesale prices climbed 5.77 percent year-over-year in June, faster than the 4.43 percent rise in May. That was above the expected growth of 5.23 percent.

Moreover, this was the strongest wholesale price inflation since late 2013.

Build up inflation rate in the financial year so far was 2.49 percent compared to a build up rate of -0.44 percent in the corresponding period of the previous year.

The acceleration in inflation was mainly driven by higher fuel and vegetable prices.

The index for primary articles rose 5.3 percent annually in June and prices of food articles went up by 1.8 percent.

On a monthly basis, wholesale prices increased 1.1 percent in June.