Wholesale deflation at 0.58% in July vs 0.13% in previous month

Wholesale deflation in the country was recorded at 0.58 per cent in July, official data showed on Thursday. This marks a second straight month of wholesale deflation.  

A negative reading of the Wholesale Price Index indicates wholesale deflation -- also known as negative inflation. 

The latest reading comes days after separate official data showed domestic consumer inflation hit an eight-year low of 1.55 per cent in July.