India’s inflation rate fell slightly to 3.66% in August, official figures have shown.
July’s rate for consumer prices was revised down to 3.69%, from a first estimate of 3.78%.
The drop is partly due to a stabilisation in food prices following better weather.
Lower inflation has led to calls for India’s central bank, the Reserve Bank of India (RBI), to cut interest rates, which currently stand at 7.25%.
Such high rates are designed to curb inflation that has stood at about 5% for most of 2015.
With inflation now substantially lower, some businesses are calling for rates to be cut.
Many analysts believe the RBI will listen to such calls.
via BBC
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza