Similarly, the prices of food articles dipped. The category has a weightage of 15.26 per cent in the WPI index. It deflated by (-) 2.16 per cent from a rise of 1.80 per cent.
However, the cost of fuel and power category, which commands a 13.15 per cent weightage, increased at a faster pace of 18.10 per cent from a growth of 16.18 per cent.
In addition, expenses on manufactured products registered a rise of 4.26 per cent from 4.17 per cent.
On a year-on-year (YoY) basis, onion prices soared higher by 38.82 per cent and for potatoes by 74.28 per cent.
In contrast, the overall vegetable prices in July declined by 14.07 per cent, against a rise of 22.01 per cent in the same month a year ago.
Further, the data revealed that wheat became dearer by 6.31 per cent on a YoY basis while prices of pulses came down by 17.03 per cent, though paddy became expensive by 3.96 per cent.
The prices of protein-based food items such as eggs, meat and fish went up marginally by 0.87 per cent.
Fuel-wise, the price of high-speed diesel rose by 22.84 per cent on a YoY basis, petrol by 20.75 per cent and LPG by 31.68 per cent.
Lower food prices eased India's July retail inflation to 4.17 per cent from 4.92 per cent in June even as it continued to rule over the Reserve Bank of India (RBI)'s medium-term inflation target of 4 per cent, official data showed.
Continuing with the reversal of accommodation begun in June, the RBI earlier this month again hiked its key lending rate by 25 basis points to bring its repo rate to 6.50 per cent citing upside risks to inflation.
Commenting on the wholesale price numbers, the Confederation of Indian Industry welcomed it as "very good news".
"Having benefited from the decline in primary articles, particularly food prices, hopefully, this is the beginning of a downswing in prices. The moderation in both CPI (consumer price index) and WPI inflation should induce the RBI to resume the benign interest rate regime," CII Director General Chandrajit Banerjee said in a statement.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)