India's wholesale inflation accelerated in December to 2.37% year-on-year, from 1.89% in November, government data showed on Tuesday, but in line with market expectations. The wholesale inflation rate,

India’s inflation rate fell for the second month in a row in December, reaching 5.22% year-on-year, below the 5.30% predicted by analysts polled by Reuters. The data could provide more leeway for India’s central bank- The Reserve Bank of India (RBI) to consider cutting interest rates to support economic growth.

India's wholesale inflation increased to 2.37% in December from 1.89% in November, driven by slower food price rises. Retail inflation eased to 5.22% from 5.48% in the same period. The RBI downgraded growth forecasts,