The wholesale price index (WPI) in June fell 4.12%; lowest since September 2015. RBI keeps interest rates on hold, stable rates expected by economists till 2023.
The food index fell 1.59% year-on-year against a rise of 0.17% in April, while fuel and power fell 9.17% compared with rise of 0.93% in the previous month.
Govt data on Monday showed WPI inflation for December was 4.95% year-on-year, lower than the Reuters forecast of 5.60% and 5.85% recorded in the previous month.
Food, energy and prices of manufactured products cooled down, hinting that a spike in input costs for companies due to the Ukraine conflict is now easing.
Principal Economic Adviser Sanjeev Sanyal notes that Consumer Price Index inflation is under control, while galloping Wholesale Price Inflation needs monitoring.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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