Oct 8, 2010
| Last Updated
We estimate that India’s wholesale price index (WPI) reached 8.6% y/y in September, rising m/m on higher food prices, the delayed effects of a fuel price hike and elevated manufacturing input costs, as indicated by the HSBC PMI. Non-food inflation picked up m/m, reflecting rising urban consumer spending and investment. Inflation, despite easing since Q3, will remain elevated at least through November as rural consumption improves, mixed weather conditions and the festival season keep food prices sticky and global[...]
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