WPI on manufactured products fell 0.28%, compared with a fall of 0.14% in the previous month. "Input costs have fallen across the world. High base effect is also showing its impact," said Emkay Global's economist Madhavi Arora.
Inflation pressures in the South Asian country have
begun to show signs of easing in the last few months.
Last week government data showed India's annual retail
inflation for March rose at the slowest pace in nearly 15 months
and was below the central bank's upper tolerance level for the
first time this year.
Earlier this month, Reserve Bank of India surprised markets
by holding its key repo rate steady after six consecutive hikes,
saying the tightening over the past 12 months would start to
weigh on the future inflation trajectory.
Forecast of normal monsoon rains in 2023 has helped ease
some concern of another bout of price increases in Asia's third
largest economy.
(Reporting by Aftab Ahmed; Editing by Kim Coghill and Shri
Navaratnam)
