India's July wholesale prices rise 2.04% on year

The wholesale price index rose 2.04% in July from a year earlier, compared with a 3.36% rise in June.

India's wholesale price inflation slowed in July, government data released on social media showed on Wednesday.

Fruits being sold at a wholesale market in Guwahati.

The wholesale price index rose 2.04% in July from a year earlier, compared with a 3.36% rise in June, as per a post on X. Economists polled by Reuters had expected a 2.39% gain during the month.

Manufactured product prices rose 1.58% year-on-year against a 1.43% increase in the previous month. Fuel and power prices rose 1.72% compared with a 1.03% 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.