India inflation nears zero

Inflation in India has dropped close to zero, official data showed Thursday, as Asia's third-largest economy continued a sharp slide towards deflationary territory.
Annual inflation fell to 0.44 percent for the week ended March 7 from 2.43 percent the previous week, according to the Wholesale Price Index, the most watched cost-of-living measure.
The fall stoked expectations the central bank would cut interest rates again in a bid to jolt the economy out of a looming deflationary period.