Inflation slows to 7.45% in October

Inflation in Wholesale Price Index (WPI) slows to 7.45% in October from 9.87 per cent in August.

Wholesale inflation unexpectedly dropped to this fiscal’s lowest level of 7.45% in October as primary food articles and manufactured items became less expensive, strengthening the case for a cut in the benchmark lending rate by the central bank to provide the much-needed succor to growth.

Analysts in a Reuters poll had predicted inflation to have hit an 11-month high of 7.96% in October after it scaled a ten-month peak of 7.81% in September. Inflation had touched 9.87% in October last year.

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