Indian Inflation Eased to 4.89% in April, Bloomberg TV ReportsKartik Goyal
Indian inflation eased to 4.89 percent in April from a year earlier, Bloomberg TV India reported, citing people it didn’t identify.
The inflation rate compares with a 5.96 percent pace previously reported in March and the median of 5.45 percent in a Bloomberg News survey of 29 economists.
Reserve Bank of India Governor Duvvuri Subbarao on May 3 cut interest rates for a third time this year and signaled there is little space to ease further, citing a current-account shortfall and the possibility of price pressures returning. It’s a challenge to curb inflation while supporting growth, he said last week, even as data showed industrial output in March expanded at the fastest pace in five months.
Consumer prices rose 9.39 percent in April, compared with 10.39 percent in March, the Central Statistics Office said yesterday. Industrial production climbed 2.5 percent in March from a year earlier, data showed last week.