India Inflation Dips to 40-Month Low, Boosting Rate-Cut Case
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Indian inflation eased in March by more than economists estimated to a 40-month low, boosting the case for an interest-rate cut to revive a struggling economy. Bonds and stocks gained, while the rupee weakened.
The wholesale-price index rose 5.96 percent from a year earlier, after climbing 6.84 percent in February, the Commerce Ministry said in a statement in New Delhi today. The median of 29 estimates in a Bloomberg News survey was 6.27 percent.