Wholesale price-based inflation eased to 0.9 per cent in June -- the lowest in at least eight months -- as prices of food and manufactured items declined, prompting the industry to demand for a rate cut by the RBI.
The wholesale price index (WPI) based inflation was 2.17 per cent in the previous month and (-)0.09 per cent in June 2016. The reading was 1.82 per cent in November 2016 -- since the availability of data for the new 2011-12 base year series. The Government data released today showed that prices of food articles contracted by 3.47 per cent in June on a yearly basis. Vegetable inflation stood at (-)21.16 per cent.