India's inflation to ease in coming months - adviser

Enlarge Photo C. Rangarajan, who heads the prime minister's economic advisory panel, seen during a banking conference...

Mon, May 12 10:29 AM

NEW DELHI (Reuters) - India's annual inflation rate is expected to moderate to 6.0 percent in the next three to four months from 3-½ year highs of 7.6 percent in late April, a top policy adviser said on Monday.

C. Rangarajan, chairman of Prime Minister Manmohan Singh's Economic Advisory Council, also told reporters the economy is expected to grow 8.0-8.5 percent in the fiscal year ending March 2009 as high global oil prices shave off some momentum.

"High oil prices will have its impact. It could slow down growth," Rangarajan said.

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