Wadhwani Says that Inflation is Likely to Remain Subdued

He argued that the weak global economy, falling commodity prices, more subdued import prices, falling capacity utilisation, and survey evidence that pipeline pricing pressures were diminishing all pointed to a reduction in underlying inflation. In addition, current measured inflation had been distorted by transient factors of which the most important was the highest rate of seasonal food price inflation (24%) since 1984.

Press release