India inflation slows to just 4.9%

It's more than a 3-year low.

According to DBS, in a development that will ease policymakers’ concerns on price pressures, April WPI inflation slowed to 4.9% YoY to more than three-year lows and down from 6.0% in the prior month.

The breakdown reveals broad-based slowdown across the sub-components, with growth in the heavily-weighted manufacturing WPI easing off to 3.4%, well below the
FY12/13 average of 5.4%.

Here's more from DBS:

Notably the non-food manufacturing WPI (proxy for core) eased markedly to 2.7%, displayed weakness in the demand-pull conditions.

The primary articles index (which includes food) slowed to 5.7%, though gained ground on month-on-month terms on higher costs of perishables.

On a related note, the trajectory for the south-west monsoon will be important for the sowing of the kharif crop, with projections by the official meteorological agency signalling towards normal rains this year.

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