India's wholesale prices surge to 5.3%

India’s wholesale prices surge to 5.3%

India's wholesale price index (WPI) rose to 5.3% for the week ended March 5, 2005 from 4.95% in the previous week, said the India's Commerce & Industry Minister. The higher-than-expected jump in inflation was mainly due to higher prices of cement and manufactured product. Economists expect inflation to stabilize at about 5% in the next few weeks as the upcoming summer season will reduce the increase in food prices.