India wholesale prices decline 0.39 percent in January
(MENAFN) India wholesale inflation reduced 0.39 percent in January, registering a second decrease in three months, supported by a fall in fuel prices, data showed, The Peninsula Qatar reported.
The drop in the Wholesale Price Index (WPI), the inflation measure with the biggest basket of goods, less than expected of a 0.11 percent growth as forecast in Bloomberg survey and raised hopes for more interest rate cuts.
Prime Minister also projected the November WPI inflation to decline 0.17 percent from 0.0 percent earlier, but maintained the December number at 0.11 percent.
"The latest numbers (of WPI) indicate that chances of rate cuts in April are very much alive," said senior economist at Dun & Bradstreet.
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