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India inflation slows further

Published By United Press International
NEW DELHI, Feb. 14 (UPI) -- Inflation in India fell in January to a three year low of 6.62 percent year on year from December's 7.18 percent, the government said Thursday.

The January drop in the wholesale price index, the country's main gauge, was the first time in more than three years the rate had fallen to less than 7 percent.

The news was welcome to the government which has been battling high inflation, rising deficits, tight money and a slowing economy for months.

Earlier this month, the government's statistics office said India's gross domestic product in the current fiscal year ending March 31 was expected to hit a decade low 5 percent.

Thursday's inflation figures could encourage policymakers to take growth-supportive measures, and increase calls for more interest rate cuts by the central bank, The Wall Street Journal reported.
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Tour de France concludes in Paris
Race winner Bradley Wiggins of Great Britain (C) stands between second place finisher Christopher Froome of Great Britain (L) and third place finisher Vincenzo Nibali of Italy on the presentation podium following the final stage of the Tour de France in Paris on July 22, 2012. Wiggins of Great Britain became that country's first ever overall winner of the Tour de France. UPI/David Silpa