Inflation in India slowed less than expected in March, as food and energy prices kept climbing, but a cooling in manufacturing prices kept intact market hopes for a rate cut by the Reserve Bank of India on Tuesday
The wholesale price index rose 6.89% in March from a year earlier, compared with February's 6.95% increase, India's ministry of commerce said on Monday
Economists surveyed by Dow Jones Newswires on average expected inflation to slow to 6.65% in March
However, inflation for manufactured products, which is the main component of the index, slowed to 4.87% in March from 5.75% in February
With growth slowing in recent months, the RBI is widely expected to cut its key lending rate by 25 basis points to 8.25% on Tuesday
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