India's consumer inflation likely eased in March to 5.80% thanks to softer food price rises, dipping below the Reserve Bank of India's upper tolerance limit for the first time this year, a Reuters poll of economists found.
The data is due at 1200 GMT on April 12, less than a week after the RBI surprised markets and analysts by holding its key interest rate steady at 6.50% when most expected a 25 basis point rise.
If realised, this would be the only month this year so far inflation is reported below the 6.00% RBI upper tolerance limit. Sujit Kumar, economist at Union Bank of India, said vegetables and fuel likely pulled inflation down, as well as the fact the base from a year ago was particularly strong. "We think the RBI's stance is somewhat risky, with inflation having proven far stickier than the Bank should be comfortable with," noted Mitul Kotecha, head of emerging markets strategy at TD Securities.
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