Wholesale Inflation Slips to 9.78% as Fuel Costs Cool
What Happened
India's wholesale inflation (WPI) eased slightly to 9.78% in July from 9.87% in June, mainly due to a cooling in fuel and power prices. The reading was also lower than economists' expectations of 9.95%. Food inflation in the WPI Food Index increased to 6.65% from 6.14%. Manufactured products inflation rose to 8.29% from 7.48%.
Key Takeaways
Wholesale inflation cooled marginally, but underlying price pressures remain elevated, especially in food and manufacturing.