Published:
India's wholesale price inflation dropped to 6%
It's the lowest since November 2009.
According to BBVA, India’s wholesale price inflation (WPI) fell sharply to 6.0% y/y (consensus: 6.4%) from 6.8% in February, it’s lowest since November 2009 amid a broad-based let up in price pressures.
BBVA also said that core inflation eased for the seventh successive month to 3.4% y/y from 3.8% previously, signaling continued weak pricing power.
"The latest inflation outturn coupled with recent disappointing activity indicators, supports the case for another 25 bps cut in the repo rate by the Reserve Bank of India at its next policy meeting on May 3 following similar cuts in its last two policy meetings," BBVA said.
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