Economists say the latest number is proof that inflation is clearly trending lower, and this should provide the Reserve Bank of India room to cut rates
Wholesale price index (WPI)-based inflation for March fell to -2.33 percent, the fourth successive month of deflating prices after the flat reading in November.
A CNBC-TV18 poll of economists had forecast March WPI at -2.07 percent.
Economists say the latest number is proof that inflation is clearly trending lower, and this should provide the Reserve Bank of India room to cut rates.
January WPI inflation has been revised lower to -0.95 percent from -0.39 percent earlier
The adverse impact of unseasonal rains in February and March is yet to show in food inflation.
Food articles inflation in March fell to a three-month low of 6.31 percent against 7.74 percent in February. Vegetable inflation too declined to 9.68 percent from 15.54 percent in February. Manufactured products inflation hit a 68-month low of -0.19 percent.
A snapshot of the components:
Non-food Articles Inflation At -7.12% Vs -5.55% (MoM)
Fuel, Power Group Inflation At -12.56% Vs -14.72% (MoM)
Manufactured Pdts Inflation At -0.19% Vs 0.33% (MoM)
Primary Articles Inflation At 0.08% Vs 1.43% (MoM)
Manufactured Products Index Down 0.1%
Non-food Articles Index Down 1.8%
Food Articles Index Down 0.4%
Fuel & Power Group Index Up 3.3%
Primary Articles Index Down 1%
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