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WPI up first time in 17 months, dashes RBI rate cut hopes

Wholesale price inflation turned positive after a gap of 17 months, rising 0.34% year-on-year in April against -0.85% in the previous month, as food and manufactured items turned dearer while deflation in fuel products narrowed sharply.On a seasonally adjusted basis, the headline Wholesale Price Index (WPI) rose 0.86% month-on-month, the strongest pace of sequential jump in the last 32 months, official data released on Monday showed.
Source: Latest News

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