Coronavirus Outbreak: US consumer prices post largest drop in five years as pandemic suppresses demand for some goods, services
The labour department said on Friday its consumer price index dropped 0.4 percent last month amid a tumble in the costs of gasoline, hotel accommodation, apparel and airline tickets.
The Reserve Bank of India, which unlike other central banks uses mainly the wholesale price index for monitoring inflation, slashed policy rates by a steeper-than-expected 50 basis points last month to boost a sagging economy.<br /><br />
The first annual inflation rate based on a new Consumer Price Index will be available next week. It will be more real than the WPI.
The figure is almost in line with the median forecast for a 9.2 percent rise in a Reuters poll and is lower than the annual rise of 9.44 percent in June.