NEW DELHI (AFP) - India's inflation fell to a 14-month low, official data showed Thursday, stoking expectations of a further interest rate cut to spur a weakening economy. Inflation fell more than half a percentage point to 3.36 percent for the week ended February 14 from 3.92 percent the previous week, according to the Wholesale Price Index, India's closest watched cost-of-living measure. The drop was driven by a fall in the cost of food and manufactured items and came amid weak overall economic growth. The central bank is likely to cut rates before the next monetary policy meeting on April 21, Crisil principal economist Dharma Kirti Joshi said. "The central bank has been hinting at a rate cut " I am expecting a 50 to 100 basis point cut," Joshi told AFP. The Reserve Bank of India has already reduced its leading lending rate to commercial banks " the repurchase rate " by 350 basis points to 5.50 percent since October to boost Asia's third-largest economy. India's inflation has tumbled from a 13-year high of 12.91 percent last August due to a slump in oil and other global commodity prices as well as the knock-on effects of the widening worldwide economic slowdown. Other economists said inflation could turn negative by April or May, noting prices have fallen virtually across the board and that recent falls in fuel, duties and other levies will fuel the deflationary trend. "The Reserve Bank of India now has a strong case to further loosen monetary policy. As inflation has weakened significantly, interest rate cuts are needed to maintain an expansionary policy stance," Moody's Economy.com, an arm of Moody's Group, said in a recent research report. The government expects growth to slacken this financial year which ends in March to 7.1 percent " the weakest in six years " after three years of a minimum nine percent expansion. Economists warn the economy could lose more steam next year, slowing to 5.5 percent, still strong by current world standards but not enough to lift millions of Indians from poverty. To stimulate demand and boost flagging industrial production, the government earlier this week cut excise duties to eight percent from 10 percent and lowered the service tax to 10 percent from 12 percent. It also prolonged a cut in value-added tax announced last December.