Official data released on Monday showed that India's wholesale price inflation (WPI) rate for the month of August remained unchanged from the previous month. However, on a year-on-year basis, it eased.

August WPI rose 1.08 percent, same as July, but lower than 4.62 percent in the same month of the previous year.

Many manufactured products including vegetable oils, leather and apparels, paper, rubber, steel and chemicals saw negative inflation. Fuel prices also eased, however, the trend may reverse this month considering the surge in crude oil prices after the recent plant attacks in Saudi Arabia.

RBI does not take WPI into consideration for its monetary policy review. However, CPI (consumer price index) or retail inflation grew at 3.21 percent in August from 3.15 percent in the previous month and this could call for another round of repo rate cut at the RBI monetary policy review meet scheduled in October.