Indian inflation back in single digits on back of Reserve Bank hikes
The monetary-policy relevant measure of inflation in India fell to 9.97% in July, a six-month low, data released by the Ministry of Commerce and Industry on Monday showed.
India's wholesale price index (WPI), the most relevant measure for monetary policy, rose by 9.97% over the 12 months to July, slower than the previous month's 10.55% year-on-year rise, moving inflation back into single digit territory after a surge earlier this year.
Monday's figures will come as a relief to the central bank
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