Tuesday 20 August 2019
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business-standard - 6 days ago

WPI inflation in July slips to 25-month low of 1.08 pc on cheaper food items, fuel

Wholesale price-based inflation declined for the third consecutive month to a 25-month low of 1.08 per cent in July, mainly on account of subdued prices of food items, fuel and manufactured products, government data showed on Wednesday. The wholesale price index (WPI)-based inflation was at 2.02 per cent in June this year and 5.27 per cent in July 2018. The previous low for WPI inflation was 0.9 per cent in June 2017. The consumer price index (CPI)-based retail inflation, which the Reserve Bank of India (RBI) takes into account while deciding its monetary policy, eased marginally to 3.15 per cent for July, indicating room for further rate cut in monetary policy in October. Although the RBI does not take into account the WPI while deciding its monetary policy, steep decline in wholesale inflation rate to 1.08 per cent will strengthen the case for a further rate cut in the next policy decision in October. The inflation in food articles -- with over 15 per cent weightage in WPI basket --

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