India's wholesale prices rise at a slower-than-expected pace in September

Wholesale prices in India rose during the month of September at a pace slower than what markets had initially anticipated.

India’s annual rate of inflation based on wholesale prices eased on a month-on-month basis to 3.57 percent in September from 3.74 percent in August, official data showed on Friday.

The annual wholesale inflation during the corresponding period last year stood at -4.59 percent.

After rising for the first time in April following 17 straight months of contraction, the WPI (Wholesale Price Index) has cumulatively risen by 4.28 percent in the current fiscal up to September.

Meanwhile, wholesale food prices last month rose 5.75 percent year-on-year, compared with a provisional 8.23 percent gain in August.