India's overall inflation drops to all time low of - 4.05 percent in

India's overall inflation, measured by the Wholesale Price Index (WPI), drops to all time low of (-) 4.05% in July compared to (-) 2.4% in June due to drop in prices of food and fuel products. This is the ninth consecutive time since November 2014, wholesale price index remained in the negative zone.

The rate of inflation for manufactured products dropped to (-) 1.47% in the same month compared to (-) 0.77% in June. Food articles inflation declined to (-) 1.16% in July compared to 2.2% in June due to sharp drop in vegetable prices which dropped by 24.25% in July. The CPI, which is the main index focused by the central bank, also dropped sharply in July. This steep drop in inflation raised expectations that the RBI may cut rates even before its next monetary policy review on 29th September.