India’s inflation falls to 3-year low at 4.89 percent

New Delhi : India’s wholesale price-based inflation decelerated to 4.89 percent in April, as prices of vegetables, milk, egg, meat and fish eased, government data showed Tuesday.

Inflation based on Wholesale Price Index (WPI) fell to 4.89 percent in April, from 7.50 percent in the corresponding month of 2012, the lowest levels in nearly three and a half years, the data showed.

The headline inflation was recorded at 5.96 percent in the previous month and 7.28 percent during February, according to data released by the ministry of commerce and industry.

Food inflation fell to 6.08 percent during the month under review as compared to 10.92 percent in the corresponding month of last year. In March, food inflation rose by 8.73 percent and in February by 11.95 percent.

The prices of vegetables decelerated by a negative 9.05 percent, while those of milk were lower by 4.04 percent from an increase of 15.68 percent in the corresponding month of 2012.

Eggs, meat and fish prices too eased at 10.44 percent from 17.54 percent in April 2012.

However, onions became costlier by 91.69 percent from last year’s price. Cereals became 15.63 percent costlier and pulses were dearer by 10.28 percent.

Manufactured products’ inflation that has 64.97 weight in the WPI index eased to 3.41 percent in the month under review as compared to 5.27 percent recorded during the corresponding month of the previous year.

Primary articles-based inflation eased to 5.75 percent in April, as compared to 9.55 percent in the corresponding month of last year.