INSUBCONTINENT EXCLUSIVE:
Wholesale inflation eased to a 25-month low of 1.08 per cent in July, from 2.02 per cent in the previous month, government data showed on
The reading for the month of July was also lower than economists' expectations
Economists in a poll by news agency Reuters had forecast wholesale price inflation at 1.93 per cent in July.Wholesale food prices in July
tensions has led to a rally in crude oil prices in the recent sessions, the subdued global growth outlook and the risks related to the
economist, ICRA."The WPI inflation is expected to remain muted in the near term, reflecting the continued softness in commodity prices,
consumer inflation (gauged by the Consumer Price Index) eased to 3.15 per cent last month, from 3.18 per cent in June.The Reserve Bank of
India (RBI) tracks consumer inflation data primarily for formulating its monetary policy.The central bank has so far this year reduced the
repo rate by 110 basis points (1.1 percentage point) in four consecutive bi-monthly policy reviews
Repo rate is the key interest rate at which the RBI lends short-term funds to commercial banks.In its August 7 statement, the RBI's
six-member Monetary Policy Committee lowered its GDP or gross domestic product growth projection to 6.9 per cent for 2019-20, from 7 per
cent in June.(With inputs from Reuters)Get Breaking news, live coverage, and Latest News from India and around the world on
TheIndianSubcontinent.com
Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India
Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.
