India Wholesale Price Inflation Eases To 9.78%
India’s wholesale price inflation moderated slightly in July to the lowest level in three months amid a slowdown in fuel price growth, data from the Ministry of Commerce & Industry revealed Friday.
The wholesale price index climbed 9.78 percent year-on-year in July compared to a revised increase of 9.87 percent in June. The expected inflation rate was 9.95 percent.
The annual price growth in fuel and power softened notably to 20.1 percent from 27.41 percent. Meanwhile, inflation based on primary articles rose to 8.52 percent from 7.0 percent in June, and that on manufactured products increased to 8.29 percent from 7.48 percent.
Data showed that food inflation also accelerated to 6.65 percent in July from 6.14 percent a month ago.
The ministry said output price inflation was 9.9 percent in July, the same as in the previous two months.
Data released on Thursday showed that consumer price inflation rose slightly to 4.45 percent in July from 4.38 percent in June.
Earlier this month, the Reserve Bank of India retained its key repo rate at 5.25 percent for the fourth consecutive meeting as policymakers await clarity on the inflation path.
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