India, Aug. 12 -- Indian shares look set to open on a positive note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years amid a continued fall in food prices.
Consumer price inflation eased to 1.55 percent in July from 2.10 percent in June. The expected rate was 1.76 percent.
Moreover, this was the lowest inflation rate since June 2017, bringing inflation below RBI's tolerance band and raising prospects of another interest rate cut.
The Reserve Bank of India held rates at 5.5 percent during its policy meeting last week.
Benchmark indexes Sensex and Nifty fell around half a percent each on Tuesday due to ongoing trade concerns and continued for...