Inde Changement des prix à la production

India’s wholesale prices increased by 2.37% yoy in December 2024, accelerating from a 1.89% rise in November, slightly above forecasts of a 2.30% gain. This marks the 14th consecutive month of wholesale inflation and the fastest pace since June, due to faster rises in manufacturing prices amid a softer fall in fuel prices. Primary articles saw faster growth (6.02% vs 5.49% in November), and manufacturing prices accelerated to a 23-month high (2.14% vs 2.00%), mainly driven by faster increases in food products (9.68% vs 9.44%), textiles (2.39% vs 1.27%), and wearing apparel (1.65% vs 1.59%). Meanwhile, food prices slightly moderated (8.89% vs 8.92%). Simultaneously, fuel & power prices fell much softer after falling the most since August 2023 in November (-3.79% vs -5.83%), attributed to smaller drops in petrol (-5.09% vs -6.83%) and HSD (-4.30% vs -5.68%). Monthly, wholesale prices were down 0.38%, the 2nd straight month of decline, following an upwardly revised 0.45% fall in November.