WPI to a new low of 2.65%

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New Delhi : The wholesale price index (WPI) fell to a new low of 2.65 per cent for the month of April, 2015, after declining to 2.33 per cent in the previous month, government data showed on Thursday.

This is the sixth straight decline in wholesale prices, a clear indication that inflationary pressures in the economy remain muted. In the face of sluggish economic growth and concerns about the pickup in private investment, the latest numbers are likely to increase pressure on the RBI to cut interest rate .The fall in WPI is larger than what most economists expected.