India inflation slows in July

  • India's wholesale price index slowed again in July, rising 6.87 percent.

    The figure was lower than expected and compares to 7.25 percent in June and 7.55 percent in May.

    The depreciation was largely on the back of fuel prices, although increases in food prices also slowed slightly.

    The figures are likely to spur an interest rate cut in September, when the next Reserve Bank of India decision is due.