India’s Inflation at 8-Year Low Gives RBI Scope to Cut Rates

India’s inflation rate slid below the central bank’s target band for the first time in eight years, giving policymakers more scope to cut interest rates in coming months if economic growth takes a hit from surging US tariffs.

The consumer price index rose 1.55% from a year earlier last month, according to data released Tuesday by the Statistics Ministry, higher than the 1.40% increase forecast by economists in a Bloomberg survey. Inflation slowed to 2.10% in June and had dipped to 1.46% in June 2017.