Wholesale price inflation at -0.5%, remains in negative zone for 7th straight month

Wholesale price inflation in India remained in negative territory for the seventh consecutive month in October. The wholesale price index (WPI) fell 0.5% in October, with the negative inflation primarily due to falling prices of chemicals, electricity, textiles, and food products. Vegetable prices fell by 21% during the month, while onion prices continued to rise. Experts expect the Reserve Bank of India to start cutting interest rates by August next year, depending on the inflation trajectory.

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