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March WPI Inflation Drops To -2.33%; Raises Hopes of Interest Rate Cut
WPI Inflation data came in much lower than expected at -2.33 per cent for the month of March as against -2.06% for the month of Feb, raising expectations of an interest rate cut by the Reserve Bank of India.
The WPI inflation Data for March Food Articles was at 6.31 per cent vs 7.74 per cent (MoM) March. March WPI primary articles inflation at 0.08% vs 1.43% in Feb.
The retail inflation or consumer price inflation for the month of March had earlier this week come in at just 5.07 per cent, dropping for the third straight month.
Analysts are now hopeful that the RBI will deliver yet another rate cut outside the policy. It has already cut interest rates twice this year outside the policy and there are hopes that we might see yet another interest rate cut, following encouraging CPI and WPI Data.
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