India’s retail inflation slips below 4% for first time in six months, boosts rate cut hopes
NEW DELHI, March 12 (Reuters) – India’s retail inflation fell below 4% in February for the first time in six months mainly due to a decline in vegetable prices, giving the central bank room to cut rates further in coming meetings. Annual retail inflation in February eased to 3.61%, below economists’ estimate of 3.98% and the lowest since July. Inflation for January was revised to 4.26% from 4.31%. The South Asian country’s inflation has been within the Reserve Bank of India’s (RBI) tolerance band of 2%-6% for four consecutive months. The slower rate of inflation has been mainly aided by