Wholesale prices plunge 4.95 pc in August
September 14, 2015 12:58
Wholesale prices fell for the tenth straight month in August, tumbling an annual 4.95 per cent primarily on the back of cooling fuel costs, government data showed.
The wholesale fuel prices tumbled 16.50 per cent from a year ago, while food prices dropped 1.13 per cent year-on-year. Prices of manufactured goods declined 1.92 per cent on year last month, Reuters reports.
The fall is likely to add pressure on the Reserve Bank of India to cut interest rates again at its policy review later this month to spur economic growth.
CPI inflation, also expected later today, likely eased to 3.6 per cent in August due to lower fuel prices, from a record low of 3.78 per cent in July, according to analysts polled by Reuters.
The wholesale fuel prices tumbled 16.50 per cent from a year ago, while food prices dropped 1.13 per cent year-on-year. Prices of manufactured goods declined 1.92 per cent on year last month, Reuters reports.
The fall is likely to add pressure on the Reserve Bank of India to cut interest rates again at its policy review later this month to spur economic growth.
CPI inflation, also expected later today, likely eased to 3.6 per cent in August due to lower fuel prices, from a record low of 3.78 per cent in July, according to analysts polled by Reuters.
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