India's wholesale prices in July contract at faster pace of 0.58% on declining food prices

India's wholesale inflation fell to -0.58% in July from -0.13% in June, marking a continued disinflationary trend, helped by a strong spring harvest despite uneven monsoons. Retail inflation also cooled to 1.55%, an 8-year low, falling below the RBIs 26% target band for the first time in over six years.