New Delhi: After better than expected industrial production numbers, which came at 2.5 per cent for the month of March, inflation has also hit a 13-month low. Consumer Price Index for the month of April is at 9.39 per cent against 10.39 per cent in March.
Rural inflation was also seen going down at 9.16 per cent as compared to 10.41 per cent in March. Food prices for consumers rose an annual 10.61 percent in April, slower than an annual rise of 12.42 percent in March.
Unlike most central banks, the Reserve Bank of India mainly uses the wholesale price index (WPI) for setting up its monetary policy. Inflation as measured by benchmark wholesale price index probably eased to 5.50 pct in April, the lowest level since November 2009, according to a Reuters poll. WPI data is due on Tuesday around 12 noon.
(With Additional Inputs From Reuters)