India's wholesales inflation down 2.06 percent in February

(MENAFN) Data showed that India's wholesales inflation dropped more-than-expected by 2.06 percent in February, marking the fourth drop in a row on falling oil prices, The Peninsula Qatar reported.

The fall in the Wholesale Price Index (WPI), the inflation measure with the biggest basket of goods, was greater than a 0.8 percent drop predicted by a survey and will fuel talk of another interest rate cut.

"My sense is that the Reserve bank of India (RBI) will take this chance and cut 25 basis points in April," said a group of economists at IIFL Institutional Equities in Mumbai.


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