India's Wholesale Inflation Hits 3.5-Year High as Fuel Costs Surge 25%

Soaring energy costs sent India's wholesale inflation surging in April to the highest level in three and a half years and well above analyst estimates, as the worst oil supply shock in history is taking its toll on economies. India, the world's third-largest crude importer, saw its wholesale inflation jumping to 8.3% in April from a year earlier, significantly accelerating from 3.88% annual inflation in March, government data showed on Thursday. The wholesale inflation reading for April was also much higher than the 4.4% projected in a Reuters…