India’s wholesale inflation eased to a 13-month low of 0.85% in April, down from 2.05% in March, due to falling food and fuel prices.

The inflation figure came in lower than the 1.76% expected by economists, marking the slowest pace since March 2024.

Wholesale food inflation rose 2.55% year-over-year in April, down from 4.66% in March, with vegetable prices falling 18.26%.

Fuel and power prices declined 2.18% in April, reversing a 0.20% rise in the previous month.

Retail inflation also stayed below the RBI’s 4% target for the third straight month, suggesting scope for further rate cuts.

The Reserve Bank of India has already reduced its key repo rate twice this year to support economic growth.

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