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WPI up 0.37 pct yr/yr on Sept 12 - govt



24 September 2009 @ 12:19 pm IST

India's wholesale price index rose 0.37 percent in the 12 months to Sept. 12, government data showed on Thursday.

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It compared with a median forecast of a 0.29 percent rise in a Reuters poll and a rise of 0.12 percent a week earlier.

The annual inflation rate was 12.42 percent during the corresponding week of 2008.

Last week, a deputy governor of the Reserve Bank of India (RBI) said WPI inflation could hit 6 percent by the end of the fiscal year in March, above the central bank's July forecast of around 5 percent.

Private sector economists have said inflation could reach as high as 8 percent by the end of March.

The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is released weekly.

This article is copyrighted by Reuters.

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