India's Wholesale Price Index rose 9.68% year-on-year in May, beating the 9.10% consensus on an inaugural new-methodology print with no backward-comparable history. A petrol and diesel price hike is set to compress the Reserve Bank of India's room to cut rates further.
India's May WPI rose 9.68% year-on-year, driven largely by fuel and power inflation at 30.33% amid global energy price shocks. Source
