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July WPI falls to -4.05% vs -2.4% in June

The July Wholesale Price Index saw 9th straight week of fall by coming in at -4.05 percent against -2.4% in June as an impact of lower commodity price

The Wholesale Price Index (WPI) contracted sharply in July to touch -4.05 percent against -2.4% in June as an impact of lower commodity price. The July number, which marks the ninth straight week of fall, was greeted by the street as out-of-turn rate cut expectations strengthened. 

The consumer price index (CPI) data, which was much better than what the street was expecting had already raised expectations that the Reserve Bank of India (RBI) could move even before the policy date of September 29.

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