The wholesale price-based inflation declined 0.58 percent in the month of July. WPI inflation in June was at -1.81 percent, while for the month of May and April it was -3.37 percent and -1.57 percent, respectively.

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Inflation in food articles during July rose 4.08 percent as against 2.04 percent in June. However, fuel and power basket inflation declined 9.84 percent in July as compared to 13.60 percent in the previous month, according to the data released on Friday.

"The annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at (-0.58 percent) (provisional) for the month of July, 2020 as compared to 1.17 percent during the corresponding month of the previous year," the commerce and industry ministry said in a statement.

Manufactured products, however, witnessed inflation of 0.51 percent in July, as against 0.08 percent in June. The RBI in its policy review last week, kept interest rates unchanged and said it sees upside risk to inflation. The apex bank expects retail inflation to moderate in October-March period.

July retail inflation was at 6.93 percent, as against 6.23 percent in June.

(With PTI inputs)

First Published:Aug 14, 2020 1:33 PM IST