New Delhi : Wholesale price inflation slipped further to (-)2.4 % in June on cheaper vegetable and fuel prices, continuing the deflationary trend for the eighth month in a row — prompting the industry to step up its demand for another rate cut by RBI to boost economy.
Although, prices of various kitchen items eased, pulses and onion turned dearer in June, as per the Wholesale Price Index (WPI) data released by the government. The inflation was (-)2.36 % in May, while it stood at 5.66 % in June 2014.
This comes a day after the Consumer Price Index (CPI) data showed that retail inflation edged up to eight-month high of 5.4 % in June. RBI, which has cut its rates thrice so far this year, mostly tracks the retail inflation for its monetary policy review, but the industry body today said there is a case for rate cut with the wholesale prices showing a continuing deflationary trend.
