MPC will have to work with an incomplete inflation picture
Wholesale price index (WPI) deflation in primary articles was 0.79 per cent in April, as against inflation of 3.72 per cent in March
Economists said the low inflation had come amidst a low response rate, and was contrary to expectations of disinflation
The data released last week also showed that the consumer price index- (CPI-) based inflation rate declined to 6.58 per cent from 68-month high of 7.59 per cent over this period
The earlier high was recorded in April 2019, when the WPI inflation stood at 3.18 per cent
Onus of reviving growth will solely be on govt
The core inflation rate (that seen in manufactured items sans food products) continued to be negative, at minus 1.7 per cent.
Food inflation rises, but core turns into deflation, prompting rate cut hope
Inflation rate in food items remained elevated even as it inched down to 6.15 per cent in July
WPI-based inflation in September had been the highest since April's 3.85%
The rate of WPI-based inflation had stood at 2.6% in September
The rate had soared to a four-month high of 3.24 per cent in August 2017
Drop in manufacturing inflation for the fourth consecutive month reflects weak pricing power