"... There seems to be real downward pressure on food inflation as well. And the reason of course is international crude prices are coming down and partly also the fact that the rural wages have decelerated quiet sharply," Subramanian told reporters here.
Food inflation in January was 6.13 per cent, according to official data.
The price of the Indian basket of crude oil on May 26, 2014, the day the Narendra Modi-led government sworn in, was USD 108.05 per barrel. It had fallen by around 60 per cent to USD 43.36 per barrel by January 14, 2015.