India's April wholesale price inflation up at 0.34%

In a report, BofA-ML said RBI is expected to go for a 25 bps cut on August 9

India's annual wholesale price inflation (WPI) moved up into the positive zone at 0.34% for April, from (-)0.85% in March and (-)2.43% during the corresponding month of the previous year, official data showed on Monday.

A Bank of America Merrill Lynch report had predicted that With global commodities deflation bottoming out, the WPI inflation is likely to see an uptick in the current fiscal and is estimated at 7.1 per cent by March 2017.

On Reserve Bank's policy stance, the report had said the Central Bank is expected to go for a 25 bps cut on August 9.

More details awaited...