WPI inflation eases to a 5-month low
RBI governor Shaktikanta Das has said that retail inflation is expected to remain above the central bank’s 6% threshold in the second and third quarters of this fiscal year. The central bank has projected retail inflation to average 6.7% in 2022-23.
Wholesale inflation eased to a five-month low in July owing to a sharp fall in food prices. The inflation print fell below the 15%-mark for the first time in four months. With global prices of commodities and fuel easing significantly amid recessionary concerns, economists expect domestic prices to cool further in the coming months.