India’s Dec wholesale prices rise 0.73% on year

NEW DELHI (Reuters) -India’s wholesale price index in December rose 0.73% year-on-year to a nine-month high, mainly on the back of higher food prices, government data showed on Monday.

The rise in the index was slower than the 0.9% expected by economists polled by Reuters, but quickened from 0.26% in November.

In December, food prices rose 5.39% year-on-year compared with a rise of 4.69% in November, while manufactured product prices fell 0.71% against a 0.64% fall the previous month.

Fuel and power prices fell 2.41% from a year earlier, compared with a 4.61% drop in November. Prices of primary articles were up 5.78% versus a rise of 4.76% a month earlier.

Last week, government data showed the country’s annual retail inflation rose at the fastest pace in four months in December, driven by a rise in prices of some food items.

(Reporting by Shivangi Acharya; Editing by Tom Hogue and Kim Coghill)