After the retail inflation, the Modi government has also got a big relief on the wholesale inflation front. According to government data, the wholesale inflation stood at 1.08 percent in July. This figure of wholesale inflation is at a low level of about 23 months. Fuel-electricity wholesale inflation declined in July. It has come down to -3.64% from -2.20% in June.
Wholesale inflation figures in June
Earlier, wholesale inflation was at 2.02 percent in June. In this sense, the wholesale inflation rate has come down by 0.94 percent in a month. At the same time, compared to a year ago, it has registered a decline of 4.19 percent. Let us know here that in July 2018, a year ago, the wholesale inflation rate was at 5.27 percent.
Earlier on Tuesday, retail inflation data came. Accordingly, the retail inflation rate has come down to 3.15 percent in July. At the same time, in July 2018, the retail inflation rate was 4.17 percent. That is, there has been a decrease of more than 1 percent. Explain that the government has given a target of keeping the central bank retail inflation within the range of 4 percent. The Reserve Bank of India changes the repo rate based on inflation data. The lower the inflation figures, the more the RBI will cut the repo rate.