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View all search resultsIndia inflation rate eases to 3-year low
Inflation in India declined to a three-year low in March, a drop that could allow the central bank to keep cutting interest rates to help revive a sputtering economy
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nflation in India declined to a three-year low in March, a drop that could allow the central bank to keep cutting interest rates to help revive a sputtering economy.
Preliminary figures Monday show wholesale price inflation fell to 6 percent from 6.8 percent in February.
Persistently high inflation has been the main reason the Reserve Bank of India has been cautious in lowering rates to help jump start Asia's third-largest economy.
The government has forecast 5 percent economic growth for the fiscal year that ended March, the slowest in a decade.
The central bank has cut borrowing rates twice this year, to 7.5 percent, but has been hesitant to move too aggressively for fear of worsening inflation. The bank has pledged to bring wholesale inflation down to below 4.5 percent.
