India’s CPI Eases as Output Slows, Boosting Rate-Cut Chances
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India’s inflation eased and factory output slowed, boosting the odds that central bank Governor Raghuram Rajan will cut interest rates for a third time this year.
Consumer prices rose 4.87 percent in April from a year earlier after a revised 5.25 percent increase in March, the Statistics Ministry said in a statement in New Delhi Tuesday. The median of 36 estimates in a Bloomberg survey of economists had predicted a 4.9 percent gain. Industrial production grew 2.1 percent compared with an estimated 3 percent rise.