India's wholesale prices declined for the fourth successive month in July, though at a slower-than-expected pace, provisional data from the Ministry of Commerce and Industry revealed on Monday.
India s wholesale inflation contracted 1.36 per cent in the month of July after contracting 4.12 per cent in June. Food index inflation surged to 7.75 per cent on an annual basis after contracting 1.24 per cent in June.
India's wholesale price inflation was negative for a second month in a row and prices decreased more than expected from a year ago, suggesting that inflationary pressures are set to ease in the months ahead and give more space for the central bank to maintain a pause in the monetary policy tightening.