Wholesale prices in India fell for the seventh consecutive week. The wholesale price index - the main measure of inflation trends - fell 1.54 per cent from a year earlier in the week to July 18. The index had fallen 1.17 per cent in the previous week.
Mridul Sagar, chief economist at Kotak Securities, said the fall in inflation was slightly higher than expected. But he expects the inflation to come back strongly in the second half of the year.
The wholesale price index for all commodities, used to measure the inflation, was up 0.04 per cent on a week-on-week basis, at 236.8.
The primary articles index was up 0.3 per cent and the fuel group prices fell 0.1 per cent on a week-on-week basis. The index for food articles rose 1.2 per cent to 259 as against 255.9 in the previous week.
The prices of manufacturing products fell 0.1 per cent.
Inflation for the week ended May 23 has been revised to 1.34 per cent as against 0.48 per cent earlier.
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