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Wholesale price inflation in negative for the eighth month

News:

  • Deflationary trends continued for the eighth month in a row in June with the wholesale price- inflation slipping to (-)2.4 per cent, largely due to cheaper vegetable and fuel prices.
  • But the retail inflation for the same month rose to an 8-month high of 5.4 per cent.
  • Overall wholesale inflation in food category declined to 2.88 per cent compared with 3.80 per cent in May. However, vegetable prices declined 7.07 per cent, with potato prices slumping 52.40 per cent.
  • Inflation in fuel and power category stood at (-)10.3 per cent in June, whereas the manufactured products index inflation was (-)0.77 per cent as against (-)0.64 per cent last month
  • RBI may not tinker with the rate in its August policy review as it would rather wait for more data on inflation. It would also wait for banks to pass on the benefit of three rate cuts during the year completely.

Source: Press Trust Of India

 

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