India's wholesale inflation quickens to 3-1/2-year high of 8.3% as energy costs soar

India's wholesale price inflation rose to 8.3% year-on-year in April, its fastest in three-and-a-half years, driven by a surge in energy prices. This reading is sharply higher than the 3.88% rise in March and economists' projection of 4.4%. Fuel and power prices increased 24.71% year-on-year in April, while wholesale food prices rose 2.31% year-on-year.