New Delhi, October 01: India’s wholesale price index rose 0.83 per cent in the 12 months to Sept. 19, above previous week’s annual rise of 0.37 per cent, government data showed on Thursday.
It compared with a median forecast of a 0.7 per cent rise in a Reuters poll.
The annual inflation rate was 12.13 per cent during the corresponding week of 2008.
On Tuesday, the finance ministry’s chief economic adviser said WPI inflation could hit 6 per cent by the end of the fiscal year in March, above the central bank’s July forecast of around 5 per cent.
Private sector economists have said inflation could reach as high as 8 per cent by the end of March.
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The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is released weekly.
–Agencies