Wholesale inflation eases to 5.09 percent in July on cheaper food articles, shows govt data
Wholesale inflation eased in July on account of cheaper food articles, especially fruits and vegetables.
Wholesale inflation eased to 5.07 percent in July on account of cheaper food articles, especially fruits and vegetables, government data showed on Tuesday. The wholesale price index (WPI) based inflation was recorded at 5.77 percent in June. In July 2017, it was at 1.88 percent.
The wholesale inflation in food articles category was (-)2.16 percent in July as against (+) 1.80 percent in the previous month, commerce and industry ministry data showed.
Among others in the basket, vegetable prices fell by 14.07 percent during the reported month as compared to a growth of 8.12 per cent in June. Likewise, there was an 8.81 percent fall in wholesale prices of fruits in July as against a rise of 3.87 percent in the preceding month.
In the pulses category, inflation stood at (-) 17.03 percent as against (-) 20.23 percent.
Retail inflation eased to a nine-month low of 4.17 percent in July, from 4.9 percent in June, on account of cheaper food articles, data showed on Monday.
Despite the clamour for rate cuts, which has just risen to deafening levels, Rajan is not likely to cut the policy rate in its 2 December review
Inflation in 'fuel and power' basket rose sharply to 7.85 percent in April from 4.70 percent in March as prices of domestic fuel increased in line with rising global crude oil rates.
The consumer price index, the main policy target of the Reserve Bank of India (RBI), likely rose 1.87 percent in July from a year earlier, according to a Reuters poll of economists, compared with an increase of 1.54 percent in June