India WPI Deflation Worsens in July
Indian wholesale prices fell 4.05 percent year-on-year in July of 2015, following a 2.40 percent drop in the previous month and missing market forecasts, as cost of petrol declined further while prices of food dropped. The wholesale inflation has been in negative territory since November of 2014.
8/14/2015 9:01:59 AM
Year-on-year, petrol prices fell 13.33 percent, following a 9.70 percent drop in the previous month and cost of diesel decreased by 16.75 percent, following a 11.86 percent fall in June.
Food prices declined 1.16 percent, following a 2.88 percent rise in June. Among food prices, potato recorded the highest drop (-49.27 percent), followed by minerals (-26.32 percent), vegetables (-24.52 percent), fibres (-10.53 percent), fruits (-4.48 percent), rice (-2.86 percent), cereals (-1.57 percent), food articles (-1.16 percent), oil seeds (-0.89 percent) and onion (-0.49 percent). In contrast, pulses recorded the highest increase (+35.75 percent), followed by milk (+5.30 percent); egg, meat & fish (+2.52 percent) and wheat (+1.96 percent).
In July, cost of manufactured products declined by 1.47 percent, as compared to a 0.77 percent fall in the previous month.
On a monthly basis, wholesale prices declined 0.6 percent, following a 0.5 percent rise in June.