Inflation flat - party on!

India's wholesale price index was unchanged at the previous week's level of 4.27 percent in the 12 months to July 7, despite a fall in some food prices, government data showed on Friday.

The rate was lower than a median forecast of 4.32 percent in a Reuters poll of analysts.

The annual inflation rate was 4.83 percent during the corresponding week of the previous year.

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 published weekly.