Inflation rate expected to fall for tenth month in a row

The country’s inflation is expected to fall for the tenth month in a row this month to 5.40 per cent as lower food prices offset upward pressure from a jump in retail fuel prices, a poll showed.

Respondents said the rate, which has been falling since the end of last year, giving policymakers room to cut lending rates and shore up economic growth, could be close to bottoming out as the favourable base effects draw to a close.