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WPI Could Confirm Waning Price Pressures

INDIA

Markets await the release of wholesale price data later today, the print is expected at 12.18% in June from 12.94% previously. Earlier this week data showed consumer prices rose less than expected, but were still above the top end of the central bank's target.

  • Elsewhere, India's long-term foreign currency debt rating was affirmed by S&P at BBB-, the lowest investment grade score, with a stable outlook. The ratings agency said it expected that the recovery from a contraction in fiscal 2021 and a second wave of COVID-19 will accelerate in the second half of fiscal 2022 and into the following year. GDP is expected to hit 9.5% in 2022.

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