Latest inflation data a "big relief" - Chidambaram

Enlarge Photo India's Finance Minister Palaniappan Chidambaram speaks during a news conference in New Delhi in this...

Fri, May 9 01:51 PM

NEW DELHI (Reuters) - Finance Minister Palaniappan Chidambaram said on Friday a marginal increase in the annual wholesale price inflation rate in late April had come as a major relief, and was not statistically significant.

Government data showed on Friday the wholesale price index for the 12 months to April 26 rose to its highest level since Nov. 13, 2004. But the figure had only edged up from the previous week's rise of 7.57 percent.

"Inflation going from 7.57 to 7.61 percent is not statistically significant. It has come as a big relief," he told reporters.

Chidambaram added the government would take more administrative steps if necessary to tame prices.

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