Wholesale prices plunge 4.95 percent year/year in August

A worker holds a fuel nozzle at a petrol pump in Hyderabad June 17, 2010. REUTERS/Krishnendu Halder/ …

NEW DELHI (Reuters) - India's wholesale prices fell for a tenth straight month in August, tumbling an annual 4.95 percent primarily on the back of a sharp cooling in fuel costs, government data showed on Monday.
The fall compared with a 4.40 percent year-on-year decline forecast by economists in a Reuters poll and a provisional 4.05 percent plunge in July.

The wholesale fuel prices tumbled 16.50 percent from a year ago, while food prices dropped 1.13 percent year-on-year.

Prices of manufactured goods declined 1.92 percent on year last month.

(Reporting by Rajesh Kumar Singh; Editing by Malini Menon)

Culled from Reuters