NEW DELHI (Reuters) - India’s wholesale prices further eased to 0.9 percent year-on-year in June, government data showed on Friday, in line with the decline in retail inflation.
The rise compares with a 1.60 percent annual gain forecast by economists in a Reuters poll. In May, prices rose a provisional 2.17 percent.
Wholesale food prices fell 1.25 percent in June, compared with 0.15 percent rise a month ago, the data showed.
India’s annual retail inflation eased to 1.54 percent in June to its slowest pace in more than five years, building pressure on the central bank to cut interest rates when it meets for a policy review on Aug. 2.
Reporting by Manoj Kumar; Editing by Malini Menon