Indian consumer inflation drops to lowest since January 2012

|By:, SA News Editor

Indian CPI eased to the lowest level in two years in January, falling to +8.79% on year from +9.87% in December and coming in below consensus of +9.2%.

The drop comes amid a concerted effort by the Reserve Bank of India to fight inflation, with the RBI surprisingly raising its key repo rate by 25 bps to 8% at the end of last month.

The Sensex is -0.7%, while the USD-INR is +0.6% at 62.22 rupees.

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