India's July Whole Sale Price Index Inflation (WPI) dropped to 5.19 per cent, from 5.43 (month-on-month).
The manufactured products inflation was placed at 3.67 per cent, marginally higher than 3.61 per cent, month-on-month.
The May WPI inflation was revised to 6.18 per cent from 6.01 per cent. The July inflation came in more or less in line with expectations.
The drop in the WPI inflation is welcome given that CPI inflation rose for the month of July to 7.96 per cent for July from 7.46 per cent in June. The Reserve Bank of India (RBI) has remained more comfortable with watching the CPI inflation, rather than the wholesale inflation and may target interest rates accordingly.
To check the difference between CPI and WPI inflation read
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