January sees modest 0.27% increase in India's wholesale prices

India's wholesale price index (WPI), which measures the change in prices of goods at a wholesale level, increased by 0.27% in January compared to the same period last year, according to government data released on Wednesday.

This rise was lower than economists' expectations as per a poll conducted by Reuters, who had predicted a 0.53 per cent increase. In December, the index had recorded a 0.73 per cent gain.

The wholesale price index is an important indicator of inflationary pressures in the economy. A slower pace of increase suggests a potential easing of inflationary pressures, which could have implications for consumer prices and overall economic growth.