India's wholesale inflation rises in June despite fall in oil prices

India's wholesale inflation rose from 9.68% in May to 9.87% in June, exceeding economists' expectations of 9.15%. The surge is driven by fresh spike in food prices and sustained manufacturing cost pressures that outweighed drop in fuel inflation. Wholesale food ​prices rose 6.14% year-on-year in June after rising 4.49% in May. Fuel and power inflation fell to 27.41% in June.