New Delhi: India's wholesale prices-based inflation in April slowed to a two-month low of 5.2 per cent, helped by a moderation in food and fuel costs, government data showed on Thursday.
The rise in the wholesale price index (WPI) compared with a 5.73 per cent year-on-year jump. In March, wholesale prices rose at their fastest pace in three months to 5.70 per cent. The reading for February WPI inflation was revised to 5.03 per cent from 4.68 per cent earlier. Food prices rose 8.64 per cent year-on-year last month, slower than an annual rise of 9.90 per cent in March.
Finance Secretary Arvind Mayaram hoped that as we go forward in the current financial year inflation numbers will be moderating further". He however, sounded caution on the possible deficiency in monsoon due to the El Nino effect. "We believe we need to be cautious and alert. But we have adequate stocks of foodgrains to meet any eventuality. And therefore I do not believe that a slightly sluggish monsoon is going to really impact the supply chain in a manner that will be disruptive," concluded Mayaram.
