India’s annual wholesale inflation rate slightly fell to 15.18% in June from 15.88% in May, the lowest reading since February and below market estimates of 15.5%. Meanwhile, the country’s trade deficit was revised marginally higher to $26.18bln in June from $9.6bln in the previous year. Imports jumped by 57.5% YoY in June to an all-time high of $66.32bln, boosted by a sharp rise in purchases of silver, gold and coal. Exports rose at a softer 25.32% to $40.13bln, driven by sales of petroleum products and engineering goods. Last week, the government raised import taxes on gold to 12.5%, reversing a cut last year to tame the effect of increased gold imports on the country’s widening trade gap.