India's wholesale price inflation accelerated to 9.87% in June, up from 9.68% in May, driven by sharp increases in fuel and food costs.
The rise in wholesale prices reflects intensifying cost pressures across the supply chain, with the fuel and power category posting a 27.41% year-on-year increase, down slightly from 30.33% in May but remaining at elevated levels.
4% year-on-year in June, exceeding market expectations and breaching the Reserve Bank of India's upper tolerance limit of 4%.
Mineral and food items also contributed significantly to the broader price spike, according to data reported by Hindu Businessline.
The acceleration in wholesale prices adds to existing concerns about sticky inflation in the Indian economy.
Consumer price inflation recently rose to 4.4% year-on-year in June, exceeding market expectations and breaching the Reserve Bank of India's upper tolerance limit of 4%.
This dual pressure on both wholesale and consumer prices suggests that underlying inflationary forces remain robust, potentially complicating the central bank's monetary policy outlook.