April 17, 2017 / 6:46 AM / 7 months ago

India wholesale prices rise less than expected

NEW DELHI (Reuters) - India’s wholesale prices rose a lower-than-expected 5.70 percent year-on-year in March, compared with a 0.45 percent fall a year ago, dragged down by easing fuel prices, government data showed on Monday.

A labourer sits on sacks of food grains while waiting for customers at a wholesale market in Ahmedabad, India, December 14, 2016. REUTERS/Amit Dave/Files

The data compares with a 5.98 percent annual rise forecast by economists in a Reuters poll. In February, prices rose a provisional 6.55 percent, the fastest pace in two-and-a-half years.

Last month, wholesale food prices rose 3.12 percent year-on-year, compared with a provisional 2.69 percent rise in February, the data showed.

Reporting by Manoj Kumar; Editing by Malini Menon

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