Inflation at 7.83 percent on May 3

Enlarge Photo A vendor arranges vegetables at a wholesale market in Siliguri in this April 4, 2008...

Fri, May 16 12:19 PM

NEW DELHI (Reuters) - India's wholesale price index rose 7.83 percent in the 12 months to May 3, higher than previous week's annual rise of 7.61 percent, government data showed on Friday.

The rate was above a median forecast of 7.50 percent in a Reuters poll of analysts. It was the highest since an annual reading of 7.93 percent on Nov. 6, 2004.

The annual inflation rate was 5.74 percent during the corresponding week of the previous year.

The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is published weekly.

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