NEW DELHI 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)
Trending On Reuters
What seemed like a possibility for the Nifty to cross the 8,000 mark just two weeks ago has now turned out to be a far-fetched dream. A 7,950-8,000 range could be used to book partial profits and re-enter closer to 7,750-7,800 for the next couple of weeks. The next big trigger would be the arrival of monsoons, writes Ambareesh Baliga. Read