India Inflation Cools to 32-Month Low as Growth Falters: Economy

India’s inflation rate unexpectedly reached a 32-month low in July, signaling that the nation’s weakest economic growth in almost a decade is starting to contain prices.

The wholesale-price index rose 6.87 percent from a year earlier, less than all estimates in a Bloomberg News survey of 29 economists with a median prediction of 7.2 percent, a Commerce Ministry statement showed today. Central bank Governor Duvvuri Subbarao said yesterday India had been “somewhat of an outlier” because slower growth had yet to damp inflation.