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July retail inflation seen picking up for first time in four months
The wholesale price index likely rose 1.3 percent in July, after four months of easing. The wholesale price data will be released around 0630 GMT on Monday, followed by consumer prices around 1200 GMT. Retail food prices had contracted for two months through June from a year earlier. The RBI expects retail inflation could accelerate to 3.5 percent to 4.5 percent in October-December. In his report, Subramanian said there was a considerable scope for monetary easing as the inflation was undergoing a structural shift.
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