India’s inflation at below 7% by April: Adviser

Kolkata, Apr 11 (Calcutta Tube / IBNS): India’s headline inflation is likely to ease down to below seven percent by the end of April and possibly go down to to five percent within months, the federal government’s Chief Economic Adviser Kaushik Basu said on Thursday.
At 8.31 percent as of February end, the inflation figures for March too are expected to see a downward slide with food inflation, one of the major drivers, coming down to a four-month-low at 9.18 percent as per data released on Thursday.
Basu, the Chief Economic Adviser to the Ministry of Finance, in Kolkata at programme organised by trade lobby The Bengal Chamber and KKN Group said that if international crude prices do not see an unexpected jump inflation will settle get down to five percent “within months”.
“For March I think inflation would be near about eight percent but then we will see a bigger slide for April and I expect it to go below seven percent by the month’s end. It is then likely to touch five percent within months,” he said.
Global crude prices, he said, were not expected to remain stiff for too long as the mid-east unrest will eventually settle down and a sustained rise in prices was unlikely.
Koushik Basu
(Photos by Avishek Mitra/IBNS)

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