Negative inflation not a concern

A fall in India's wholesale price index is not a cause for concern, the deputy head of Planning Commission said on Thursday. "Absolutely no cause of concern whatsoever. We knew that it was going to appear negative for a while," Montek Singh Ahluwalia said

Government data showed the wholesale price index fell 1.61 per cent in the 12 months to June 6, its first drop in at least three decades, and compared with the previous week's annual rise of 0.13 per cent.