Inflation has fallen sharply since it crossed 12 per cent for the first time in 13 years in August. -- PHOTO: REUTERS
NEW DELHI - INDIA'S inflation rate fell to a nine-month low, government data showed on Friday, providing more scope for interest rate cuts.
The annual rate of inflation fell from 6.8 per cent to 6.61 per cent for the week ending Dec 13, according to the Wholesale Price Index, the most watched cost-of-living monitor.
Inflation has fallen sharply since it crossed 12 per cent for the first time in 13 years in August.
A reduction in prices of petrol and diesel by the government and a cut in VAT by four percentage points earlier in the month have brought prices down.
Economists said the central Reserve Bank of India (RBI) was expected to lower interest rates at its next scheduled monetary policy meeting, on Jan 27. -- AFP
