Arab Today, arab today india july inflation falls unexpectedly to 687
Last Updated : GMT 21:28:08
Arab Today, arab today
Arab Today, arab today

India July inflation falls unexpectedly to 6.87%

Arab Today, arab today

Arab Today, arab today India July inflation falls unexpectedly to 6.87%

New delhi - AFP

India\'s inflation slowed unexpectedly in July to 6.87 percent from a year earlier, data showed on Tuesday, giving the central bank more room to cut interest rates to spur a slowing economy. The July headline reading was significantly below the median forecast of 7.4 percent in a poll of 17 economists by Dow Jones Newswires and also below the reading for June of 7.25 percent. India\'s central bank has been under political and business pressure to cut rates to help boost the economy, but inflation has been seen by analysts as too high to sharply reduce the cost of borrowing. While still above the bank\'s comfort level of five to six percent, the July inflation figure may make it easier for the bank to cut rates at its next policy meeting in September, analysts said. India\'s once-booming economy grew by just 5.3 percent between January and March -- its slowest annual quarterly expansion in nearly a decade.

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