Wholesale inflation drops to four-month low of 4.53% in August

Inflation-based on wholesale price index (WPI) eased to 4.53% in August on account of decline in the prices of food commodities such as vegetables and pulses.

WPI inflation stood at 5.09% in July and 3.24% in August last year.

As per data released on Friday, food articles registered deflation at 4.04% during the month under review while deflation in vegetables, pulses and fruits was 20.18%, 14.26% and 16.40%, respectively.

Government Announces Measures To Check Rising Current Account Deficit 

The government on Friday indicated that it may curb non-essential imports in the weeks ahead and take steps to boost exports besides announcing a number of measures to shore up the rupee and control the current account deficit.

The five steps announced following a meeting chaired by Prime Minister Narendra Modi to review the state of the economy include scrapping withholding tax on masala bonds — rupee-denominated debt sold overseas — and relaxations in the overseas debt regime.