Inflation rises to -1.21 per cent on July 4

India’s wholesale price index fell 1.21 per cent in the 12 months to July 4,compared with the previous week’s annual decline of 1.55 per cent,government data showed on Thursday.

The fall was smaller than a median forecast of 1.38 per cent fall in a Reuters poll.

The annual inflation rate was 12.19 per cent during the corresponding week of 2008.

The wholesale price index is more closely watched than the consumer price index,which is published monthly,because it covers a higher number of products and is released weekly.