NEW DELHI: India's inflation slipped to a surprise nine-month low in February, official data showed, offering the government some respite ahead of elections that kick off next month.

The Wholesale Price Index — the most widely watched price barometer — eased to 4.68 percent in February from a year earlier from 5.05 percent the previous month.

The data — the last before a central bank policy meeting in April 1 — beat market forecasts of 4.9 percent.

But the good news may come too late to boost the fortunes of the Congress-led government, which is trailing in opinion polls and which has been desperate to tame inflation and revive the economy as it seeks a third term.

Asia's third-largest economy has been gripped by "stagflation", economists say, with prices accelerating briskly while economic growth slowed last year to 4.5 percent, its lowest in a decade.

Business has been clamouring for a cut in the benchmark lending rate, now at a hefty eight percent, to boost slumping growth by lowering borrowing costs.

Earlier this week, retail inflation, which uses a smaller basket of goods — hit a 25-month low of 8.1 percent in February, but still twice as high as the long-term target of 4.0 percent targeted by the central bank, which has hiked rates three times since September to curb price rises.

The slip in February's inflation the back of a drop in food costs but lashing rains in the past few weeks have hurt crops, which could see prices rise again, economists say.

India's right-wing Hindu nationalists, perceived by business as more likely to get the economy back on track, are tipped to win the general elections, whose results are due in May.