India: Both consumer and wholesale price inflation slow in March
Consumer prices dropped 0.27% in March compared to the previous month, after dropping 0.73% in February. Lower prices for food and beverages drove this third consecutive monthly decrease.
Consumer price inflation slowed to 5.9% in March from 6.6% in February. As a result, inflation dipped below the upper limit of the Reserve Bank of India’s (RBI) target range of 2.0%–6.0%.
Wholesale prices fell 0.90% in March compared to the previous month, after falling 0.97% in February. Wholesale price inflation, meanwhile, slowed to 1.0% in March from 2.3% in February.