New Delhi: Wholesale inflation in India is expected to decline to a near two-year low in July 2025, a report released by Union Bank of India stated. The likely drop is attributed to a sharp decrease in food and fuel prices.

The Wholesale Price Index (WPI) is likely to have dropped to -0.45 per cent year-on-year (y/y) in July 2025, while it stood at -0.13 per cent in June 2025, marking the lowest level in almost two years.

As per the report, Food WPI corrected sharply to -1.72% y/y from -0.26% in June while core WPI strengthened from 1.06% in June to 1.50% in July. The Fuel WPI too remained in the contraction zone, likely shrinking to -4.90% from -4.23% in June. Core WPI which reflects inflation excluding food and fuel, has gone up from 1.06% last month........

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