India's wholesale prices decreased for the second straight month in July and at the fastest pace in two years, provisional data from the Ministry of Commerce and Industry revealed on Thursday.
The wholesale price index, or WPI, dropped 0.58 percent year-over-year in July, following a 0.13 percent fall in June. Economists had expected a decline of 0.30 percent.
The decline in food prices deepened to 2.15 percent from 0.26 percent. Similarly, prices for primary articles fell 4.95 percent annually in July versus a 3.38 percent decrease a month ago, and costs for fuel and power also showed a further decline of 2.43 percent.
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