Wholesale prices contract for third month in June

India’s wholesale price gauge contracted for a third month in June, data released by the Ministry of Commerce and Industry showed on Tuesday, with prices falling 1.81% from a year earlier.

The annual wholesale price index fell in June, mainly because of a fall in fuel prices, from a year earlier, compared to 2.40% fall predicted by analysts in a Reuters poll.

The annual retail inflation, the main gauge for the central bank to monitor prices, however, rose to 6.09% in June, data released on Monday showed.