India’s wholesale prices up 6.55 percent in February

NEW DELHI India’s wholesale prices rose a more-than-expected 6.55 percent year-on-year in February, compared with a 0.85 percent fall a year ago, driven by fuel and food prices, government data showed on Tuesday.

The data compares with a 5.90 percent annual rise forecast by economists in a Reuters poll. In January, prices rose a provisional 5.25 percent, the fastest pace in two-and-a-half years.

Last month, wholesale food prices rose 2.69 percent year-on-year, compared with a provisional 0.56 percent fall in January.