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India's wholesale price inflation slowed in July, data from the Ministry of Commerce & Industry showed on Wednesday.

The wholesale price index climbed 1.08 percent year-on-year in July, after a 2.02 percent increase in June. Economists had expected a 1.8 percent rise.

The build-up inflation rate in the financial year was 1.08 percent in July compared to 3.1 percent in the corresponding period last year.

The wholesale prices for food articles grew by 1.3 percent in July and that of non-food articles rose 0.1 percent.

Fuel and power prices declined by 1.5 percent in July and prices of manufacturing products fell 0.3 percent.

On a monthly basis, wholesale prices declined 0.2 percent in July.