India's wholesale inflation fell into deflation for the first time in three years, with the Wholesale Price Index falling 0.92% YoY in April. Rajani Sinha, chief economist at CareEdge, expects the trend to continue until July with the annual average ranging between 1-2%. The deflation could lead to a cut in interest rates, with retail inflation slowing sharply to 4.7% from March's 5.7%, according to data released on Friday
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