India Wholesale Inflation at Record Low Adds Easing Pressure
This article is for subscribers only.
India’s wholesale prices dropped more than estimated, in line with retail inflation, adding pressure on central bank Governor Raghuram Rajan to cut interest rates.
Wholesale prices fell 4.05 percent in July from a year earlier, the Commerce Ministry said in a statement on Friday, the steepest fall in data going back to 2005. The median of 33 estimates in a Bloomberg survey of economists predicted a 2.9 percent decrease.