India’s CPI Under New Data Series Boosts Case for Rate Hold

India’s inflation remained relatively benign under a revised data series published Thursday, bolstering the case for the central bank to keep interest rates on hold.

Consumer prices rose 2.75% from a year earlier, the Ministry of Statistics and Programme Implementation said Thursday, compared with a median estimate of 2.77% in a Bloomberg survey of economists. The release did not provide the previous month’s inflation reading under the new series.