India's wholesale price inflation was negative for a second month in a row and prices decreased more than expected from a year ago, suggesting that inflationary pressures are set to ease in the months ahead and give more space for the central bank to maintain a pause in the monetary policy tightening.
The wholesale price index, or WPI, declined 3.48 percent year-on-year following a 0.92 percent fall in April, data from the commerce ministry revealed Wednesday. Economists had forecast a 2.35 percent decrease.
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