WPI inflation to trend downwards over next 2-3 months: Chidambaram

NEW DELHI Fri Dec 14, 2012 3:42pm IST

Finance Minister Palaniappan Chidambaram speaks during a news conference in New Delhi October 29, 2012. REUTERS/B Mathur/Files

Finance Minister Palaniappan Chidambaram speaks during a news conference in New Delhi October 29, 2012.

Credit: Reuters/B Mathur/Files

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NEW DELHI (Reuters) - India's wholesale price index-based inflation is expected to trend downwards in the next two to three months, Finance Minister P. Chidambaram said on Friday.

"WPI inflation seems to be trending downwards... Our expectation is that it will continue to trend downwards over the next two to three months," Chidambaram told lawmakers in the lower house of Parliament.

India's wholesale inflation cooled to its weakest pace in 10 months in November, a positive sign for the struggling economy but probably not a big enough slowdown to persuade the central bank cut interest rates next week. (Reporting by Arup Roychoudhury; editing by Malini Menon)

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