May headline inflation eases to 4.70 percent

May headline inflation eases to 4.70 percent

Last Updated: Fri, Jun 14, 2013 07:13 hrs
A man carries sacks filled with cabbages at a wholesale vegetable market on the outskirts of Jammu

India's headline inflation slowed for a fourth straight month in May to 4.7 percent from a year earlier, but a slump in the rupee is likely to prevent the central bank from lowering policy rates on Monday despite the economy slowing to a decade-low level.

May's reading, the lowest in more than three years, was less than the 4.87 percent estimated by analysts in a Reuters poll. The wholesale price index, India's main inflation measure, rose an annual 4.89 percent in April.

The reading for March was revised to 5.65 percent from 5.96 percent, data released by the Ministry of Commerce and Industry on Friday showed.

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