New Delhi, August 14
The wholesale price-based inflation declined 0.58 per cent in July, at the same time as meals objects turned costlier.
WPI inflation in June was at (-) 1.81 per cent, whereas for the month of May and April it was (-) 3.37 per cent and (-) 1.57 per cent respectively.
“The annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at (- 0.58 per cent) (provisional) for the month of July, 2020, as compared to 1.17 per cent during the corresponding month of the previous year,” the commerce and trade ministry stated in a press release.
Inflation in meals articles throughout July stood at 4.08 per cent, as towards 2.04 per cent in June.
However, gasoline and energy basket inflation fell 9.84 per cent in July, in comparison with 13.60 per cent within the earlier month.
Manufactured merchandise, nevertheless, witnessed inflation of 0.51 per cent in July, as towards 0.08 per cent in June.
The RBI in its coverage evaluate final week, saved rates of interest unchanged and stated it sees an upside threat to inflation. The apex financial institution expects retail inflation to average in October-March interval.
July retail inflation was at 6.93 per cent, as towards 6.23 per cent in June. PTI