July 14, 2015 / 6:53 AM / 2 years ago

Wholesale prices fall 2.4 percent in June

NEW DELHI (Reuters) - India’s wholesale prices fell at a faster-than-expected annual rate of 2.4 percent in June, their eighth straight decline, mainly on the back of weak fuel prices, government data showed on Tuesday.

A man loads onion sacks in a supply truck at a wholesale market in Ahmedabad February 16, 2015. REUTERS/Amit Dave/Files

The data compared with a 2.2 percent year-on-year fall forecast by economists in a Reuters poll and a provisional 2.36 percent annual decline in May.

The wholesale food index rose 2.88 percent year-on-year, while fuel prices fell 10.03 percent from a year ago.

Reporting by Douglas Busvine; Editing by Malini Menon

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