Wholesale price index rose 7.31% year-on-year in Dec
In its October policy review, the central bank raised its WPI inflation projection for end-March 2010 to 6.5%, with an upside bias, from 5% earlier.
The wholesale price index rose 7.31% in December from a year earlier, driven by higher food prices, government data showed on Thursday.It matched a median forecast of a 7.31% rise in a Reuters poll and was higher than previous month's annual rise of 4.78%.In its October policy review, the central bank raised its WPI inflation projection for end-March 2010 to 6.5%, with an upside bias, from 5% earlier.The wholesale price index is more closely watched than the consumer price index because it covers a higher number of products.