Inflation eases to 4.7 percent in May

India's wholesale price based inflation fell to 4.7 percent in May as compared to 4.89 percent in the previous month and 7.55 percent recorded in the corresponding month of last year, government data showed Friday.

The country's main inflation indicator based on the Wholesale Price Index (WPI) has eased consistently in the past few months giving room for monetary policy easing by the central bank.

The Reserve Bank of India (RBI) is scheduled to announce review of the monetary policy June 17. The central bank had cut interest rates in all the last three policy review.

Slower increase in the prices of manufactured as well as primary articles have helped in easing of inflationary pressure in the recent months.

Inflation of manufactured products declined to 3.11 percent in May, while primary articles inflation eased to 6.65 percent. Food inflation declined to 8.25 percent, according to data released by the ministry of commerce and industry here.

Fuel and power inflation stood at 7.87 percent in the month under review.

As per the Central Statistics Office (CSO) data released earlier this week, retail inflation based on Consumer Price Index (CPI) declined to 9.31 percent in May as compared to 9.39 percent in the previous month and 10.39 percent recorded in March.