Even as retail inflation picked up, wholesale inflation slipped in April on cheaper fuel and manufactured items official data showed Tuesday. Wholesale price-based inflation stood down at 3.07 per cent last month as against
Although a deflation in manufactured and fuel products narrowed in February, compared with the previous month, a fall in primary food inflation helped keep the WPI inflation almost the the January level.
Wholesale price inflation touched -0.73 per cent in December--retreating from -1.99 per cent recorded in the previous month but still remaining in the negative zone for 14 months in a row--mainly on a rise in food prices.
Deflationary trend continued for the 10th month in a row with inflation plunging to a historic low of (-)4.95 per cent in August on cheaper fuel and vegetables, putting pressure on RBI to cut interest rate.
Wholesale price inflation hit a record low of -4.05% in July, as the steepest fall in food inflation in at least a decade further deepened a broad-based slowdown in input prices, showed the official data released on Friday.
India Inc said the downtrend in both WPI and retail inflation numbers coupled with sluggish industrial output data make a strong case for the Reserve Bank to cut interest rate ahead of its September 29 review.
Deflationary trends continued for the ninth month in a row in July, pulling down WPI inflation to historic low of (-)4.05 per cent, on cheaper commodities as India Inc raised pitch for a rate cut by RBI ahead of its September