India’s wholesale inflation unexpectedly accelerated to 8.3% in April, its fastest pace in three-and-a-half years, as surging energy costs triggered by the Middle East conflict pushed up fuel and manufacturing prices across the economy, government data showed on Thursday.
The surge comes even as the government has largely kept retail prices of petrol, diesel and domestic cooking gas unchanged despite a sharp rise in global crude oil prices, cushioning households from an immediate pass-through in fuel costs. Commercial LPG cylinder prices, however, have seen increases, reflecting mounting pressure from higher international energy prices.
