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
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