July 14, 2020 / 6:58 AM / 24 days ago

India wholesale prices contract for third month in June by 1.81% year-on-year

FILE PHOTO: Vendors wait for cutsomers at their stalls at a wholesale vegetable market in Mumbai, India, October 16, 2017. REUTERS/Danish Siddiqui/File photo

NEW DELHI (Reuters) - India’s wholesale price gauge contracted for a third month in June, data released by the Ministry of Commerce and Industry showed on Tuesday, with prices falling 1.81% from a year earlier.

The annual wholesale price index fell in June, mainly because of a fall in fuel prices, from a year earlier, compared to 2.40% fall predicted by analysts in a Reuters poll.

The annual retail inflation, the main gauge for the central bank to monitor prices, however, rose to 6.09% in June, data released on Monday showed.

Reporting by Manoj Kumar and Nidhi Verma; Editing by Christian Schmollinger

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