 "Green shoots tracker")
Inflation in manufactured goods on the decline
Even as Wholesale Price Index-based inflation rose marginally to 4.86 per cent in June from 4.7 per cent in the previous month, the rate of price rise for manufactured items fell sharply to 2.75 per cent from 3.11 per cent.
This, despite the rupee depreciating against the dollar. If the trend continues and food inflation, which rose 9.74 per cent against 8.25 per cent in May, also shows a tendency to cool, the Reserve Bank of India would be in a better position to cut rates to boost economic growth, though it has raised short-term rates to stabilise the rupee.
Even as Wholesale Price Index-based inflation rose marginally to 4.86 per cent in June from 4.7 per cent in the previous month, the rate of price rise for manufactured items fell sharply to 2.75 per cent from 3.11 per cent.
This, despite the rupee depreciating against the dollar. If the trend continues and food inflation, which rose 9.74 per cent against 8.25 per cent in May, also shows a tendency to cool, the Reserve Bank of India would be in a better position to cut rates to boost economic growth, though it has raised short-term rates to stabilise the rupee.