Inflation based on the wholesale price index (WPI) was 0.90 per cent in June 2017 and 0.63 per cent in July 2016. Food articles, which were witnessing deflation for the previous two months, saw inflation go up to 2.15 per cent in July on a yearly basis, the official data released today showed. Fruits saw inflation at 2.71 per cent, cereals (0.63 per cent) and paddy (3.47 per cent). Earlier this month, the Reserve Bank cut policy repo rate by 0.25 per cent to 6 per cent citing reduction in inflation risk. The rate cut was the first in 10 months and brought policy rates to a near 7-year low.

Source: India Today August 14, 2017 10:07 UTC