Coal news and updates

July inflation eases to 5.19%

August 14: India's wholesale price inflation eased to a five-month low in July on moderation in fuel costs but soaring prices for vegetables and fruits are likely to fuel inflationary pressures following the weak start to the monsoon.  

Adding to inflationary worries are a weak currency and lingering uncertainties over global crude prices due to conflicts in Ukraine and the Middle East. Since its 2014 high, hit on May 23, the rupee has shed 4.7%.

The wholesale price index (WPI) rose 5.19% year-on-year last month, its slowest pace since February. In June, prices rose 5.43% from a year earlier.

Surging costs of vegetables, fruits and milk led to a faster-than-expected 7.96% on year rise in retail prices in July, government data showed. Poor rains in some parts of the country have pressured food and vegetable prices since March.

The central bank wants to reduce retail inflation to 6% by 2016. It held rates unchanged last week, in a policy review that cited that there was a risk of inflation increasing due to the weak start to the monsoons.