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India Wholesale Prices Hit Three-Decade High on Costly Oil

  • WPI prices for April rise more than 15%, fastest since 1991
  • Economists expect accelerated rate increases to tame prices
Updated on

India’s wholesale inflation soared to the highest in more than three decades as Russia’s war in Ukraine and supply-chain disruptions pushed up input costs for producers.

Wholesale prices in April rose 15.08% from a year earlier, the highest since September 1991, data released by the Commerce Ministry showed Tuesday. That’s higher than the median estimate of a 14.92% gain in a Bloomberg survey of 14 economists.