Price index jumps 8.23% YoY in January

India's wholesale price index (WPI) rose an annual 8.23% in January on higher food prices, government data showed on Monday.

The figure exceeded the median forecast for an 8.05% rise in a Reuters poll and was lower than the annual rise of 8.43% in December. The annual reading for November was upwardly revised to 8.08% from 7.48%. The WPI is more closely watched than the consumer price index (CPI) in India as it covers a higher number of products.