Wholesale price rise had begun to cool over the past 2 months in tandem with slowing inflation in fuel prices, which stood at 24.8 percent during the month. This was lower than August's 26 percent.
The main driver behind wholesale prices in recent months, fuel inflation rose by a smaller margin of 26 percent in July, down from 32 percent in June. While this has cooled wholesale inflation slightly, price rise continues to be historically high.
Wholesale prices have shot up as a result of fuel inflation which remained at a high 32 percent in June. Till May, fuel inflation has nearly doubled for three straight months hitting 37 percent up from just 0.6 percent in February.
The report states that in the last 24 months to June 2016, while urban inflation fell from 9 percent to 5.3 percent (compared with the two years prior), rural inflation declined from 10.1 percent to 6.2 percent.
A high-powered committee to suggest revenue neutral GST rate will submit its report in the first week of December, Minister of State for Finance Jayant Sinha said.
A day after Cabinet approved incorporation of changes in the landmark GST Bill as suggested a Rajya Sabha Select panel, Finance Ministry on Thursday said it is working closely on a "reasonable" GST rate.
The core inflation is estimated to possibly decline further to a figure of around 0.6 versus around 0.88 percent month-on-month.
A CNBC-TV18 poll of analysts had estimated it November CPI at 4.4 percent against 5.52 and October IIP at 2.1 percent against 2.5 percent on a month-on-month basis.
Vegetable prices will lead the entire headline figure down to possibly 5.5 percent figure but the core WPI is expected to still be static at those 2.8 percent levels.
October WPI inflation came in at 7 percent which is what a CNBC-TV18 poll has predicted.
Ahluwalia says the government recognises that coal block allocation decisions are bound to be subject to questioning and hence must be auctioned.
CRISIL Research has come out with its report on WPI Inflation. According to the research firm, fuel Inflation, which rose to 8.3% in August, is expected to rise further over September-October due to higher crude oil prices and the recently announced hike in diesel prices by Rs 5/litre.
Emkay Global Financial Services has come out with its report on inflation.
The food inflation eased sharply to 1.81 percent in the year to December 10, from an annual 4.35% rise in the previous week, government data showed on Thursday.
CRISIL Research has come out with its report on inflation. The research firm do not expect a cut in CRR or repo rate in the monetary policy announcement.
India's food and fuel inflation accelerated in mid-September, indicating persistently high inflationary pressures in the economy which may prompt the Reserve Bank of India (RBI) to continue to tighten rates.
India's food price index rose 8.04% and the fuel price index climbed 12.12% in the year to July 23, government data on Thursday showed.
With a possible rate hike by the central bank coming on July 26, experts A Prasanna, chief economist at I-Sec PD, P Sitaram, CFO of IDBI and Anant Narayan of Standard Chartered Bank, share that there is more to inflation in the near-term.
Food inflation in the country fell to a seven-week low of 7.61 per cent for the week ended June 25 on the back of cheaper vegetables, pulses and potatoes.
Food inflation has seen a marginal decline in the week ended June 4 from the numbers in the previous week. From the 9.01% figure where food inflation stood on week before June 4, the numbers have fallen to 8.69%.
India's food price index rose 7.70% and the fuel price index climbed 12.25% in the year to April 30, government data on Thursday showed.
India's food price index rose 9.50% and the fuel price index climbed 13.13% in the year to March 19, government data on Thursday showed.
India's food price index rose 9.42% and the fuel price index climbed 12.79% in the year to March 5, government data on Thursday showed.
Food and fuel inflation eased in late-February, but remained at elevated levels, maintaining the case for further monetary tightening to keep a lid on headline inflation.
The food price index rose 9.52% and the fuel price index climbed 9.48% in the year to February 26, government data on Thursday showed.