Inflation based on the wholesale price index (WPI) declined to a 13-month low of 4.03% for the week ended June 16 when compared with 4.28% in the previous week due to lower prices of pulses, cereals, fruits and vegetables and some manufactured items.This is the fourth week in a row when inflation has been below the 5% mark easing pressure off the Reserve Bank to take further monetary steps. The decline in inflation, according to analysts, is mainly due to the 0.1% decline in the food articles group. Among this category, prices of moong, fish-marine, gram, wheat, maize, coconut oil, khandsari, gur and fruits and vegetables declined during the week under review. Prices of food articles may come down in future as monsoon for the current year is projected to be normal, the analysts added.
