Macro Wrap

India's retail inflation rate fell to a lower-than-expected 3.34% in March.

The reading fell for a fifth straight month and came in slightly below the 3.61% seen in February, as growth in food prices continued to soften.

Food inflation, which is a key constituent of the country’s consumer price index, hit 2.69%. The decline was led by a fall in prices for vegetables, spices, eggs and pulses.