The Centre on Monday said India’s Wholesale Price Index rose to 3.39% in December 2016, compared to 3.15% in November last year. This was the fastest rise in wholesale prices in two months, Reuters reported. Higher rates of fuel, power, minerals and manufactured products contributed to the increase.
In December 2016, wholesale prices of food dropped by 0.70% year-on-year, compared to November’s rise of 1.54%. The food price index declined by 2.2% to 270.1 owing to reduced costs of fruits and vegetables, DNA reported.
The BSE Sensex was trading at 27,274 at 12.44 pm, while the Nifty was trading 6.25 points higher at 8,406 points on Monday after WPI was announced.