Overview
- Official data confirm a return to inflation in December after November’s 0.32% year-on-year decline at the wholesale level.
- The reading beat market expectations near 0.30%, pointing to a quicker easing of deflationary pressure.
- The Commerce and Industry Ministry credited higher prices in other manufacturing, minerals, machinery and equipment, food products, and textiles.
- Analysts highlighted base effects together with stronger food and global commodity prices, with fuel and power remaining volatile.
- Economists say wholesale deflation has likely bottomed and note improving producer pricing power, while monetary policy remains primarily guided by CPI.