India's overall inflation drops to -2.33 percent in March negative inflation for fifth consecutive

India's overall inflation, measured by the Wholesale Price Index (WPI), drops to -2.33% in March compared to -2.06% in February due to drop in prices of food and fuel products. This is the fifth consecutive time, wholesale price index remained in the negative zone. Wholesale inflation stood at 6% in March last year.

Inflation in food articles stood at 6.31% in March compared to 7.74% in the previous month while the rate of inflation for fuel stood at (-) 12.56% in March compared to (-) 14.72% in February. Also the rate of inflation for manufactured products dropped to (-).19% in the same month compared to 0.33% in February. With deflation for five consecutive months, RBI should cut rates now in order to boost both economic and industrial growth.