NEW DELHI, Aug 18 (Reuters): India's wholesale price inflation slowed in July mainly due to a fall in vegetable prices, government data released on Wednesday showed.
The wholesale price index rose 2.04 per cent in July from a year earlier, compared with a 3.36 per cent rise in June. Economists polled by Reuters had expected a 2.39 per cent gain during the month.
Last month, food prices rose 3.55 per cent on year compared with an increase of 8.68 per cent in June. Vegetable prices fell 8.93 per cent on year against a 38.76 per cent rise in the previous month.
Manufactured product prices rose 1.58 per cent year-on-year against a 1.43 per cent increase in the previous month. Fuel and power prices rose 1.72 per cent compared with a 1.03 per cent gain in June.
Earlier this week, data showed the country's retail inflation fell in July to a near five-year low, as food inflation eased from previous highs due to a base effect.
Despite food inflation cooling in July, most policymakers expect prices of cereals and vegetables to remain elevated through the year.
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