India’s wholesale price index (WPI)-based inflation stood in the negative zone at 0.58 per cent in July on an annual basis. This marks the second straight month of wholesale deflation. According to the Ministry of Commerce and Industry, negative rate of inflation during last month was primarily due to decrease in prices of food articles, mineral oils, crude petroleum and natural gas, and manufacture of basic metals. The annual rate of inflation based on the WPI food index decelerated and stood in negative territory at 2.15 per cent. Meanwhile, deflation deepened in primary articles at 4.95 per cent, fuel and power segment also registered deflation of 2.43 per cent. However, inflation in manufactured products increased to 2.05 per cent. WPI reflects wholesale-level price changes, differing from CPI which measures consumer-level price variations. This decline in WPI is in sync with the easing of retail inflation, which slipped to an eight-year low of 1.55 percent in July amid falling food prices.