India’s retail inflation fell to 3.61% in February, the lowest since July and below the RBI’s 4% target, driven by a sharp drop in vegetable prices. This print strengthens the case for a successive 25-basis-point rate cut.The inflation rate was also lower than the 3.9% consensus forecast by most media organisations. Inflation stood at 4.26% in January and 5.09% a year ago.
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