India’s wholesale prices fall for 16th straight month in Feb

A vendor takes notes of a sale at a wholesale fruit market in Bengaluru, India, October 15, 2015. REUTERS/Abhishek N. Chinnappa/Files

India’s wholesale prices fell for a 16th straight month in February, declining an annual 0.91 percent, driven down by tumbling oil prices, government data showed on Monday.

The pace of fall was faster than a 0.27 percent annual decline forecast by economists in a Reuters poll. In January, the index fell a provisional 0.90 percent.

The wholesale fuel prices dropped 6.40 percent from a year ago in February, while prices of manufactured goods declined 0.58 percent year on year.

Food prices last month gained 3.35 percent year-on-year, compared with a provisional 6.02 percent gain in January.

[Source:- Reauters]