India's wholesale price index (WPI)-based inflation eased marginally to 9.78% in July, with food, fuel and power prices cooling. It was the first month-on-month decline in wholesale inflation under the new 2022-23 base year series. The softening across primary and energy segments points to some easing of wholesale-level price pressures during the month.
Nabka Insight
The July WPI figure and the first m-o-m fall under the new base year are examinable economy data.
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- WPI inflation: 9.78% (July)
- Trend: eased marginally; food, fuel, power cooled
- First month-on-month drop under new 2022-23 base year
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