India|April WPI inflation drops below 5%, supporting the case for another rate cut in June

Wholesale price inflation fell to a lower-than-expected 4.9% y/y in April (consensus: 5.4%; prior 6.0%) the lowest level since November 2009, amid a broad-based let up in price pressures. Core inflation fell for the eighth successive month to 2.7% y/y from 3.4% previously, the result of weak final demand and lower global commodity prices.

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