"Inflation based on Consumer Price Index (Combined) for the month of June, 2018 stood at 5 per cent as compared to 4.9 per cent in May 2018 and 4.6 per cent in April, 2018. There has been a significant moderation in overall inflation over the last three years owing to astute macro-economic management and price monitoring by the government," the minister said.
The Consumer Price Index (Combined) which averaged 4.9 per cent in 2015-16, to 4.5 per cent in 2016-17 and further declined to 3.6 per cent in 2017-18, he said.
Food inflation in June 2018 was just 2.9 per cent, he said.
Goyal said if inflation figures for the last ten, and not just three years, are looked at, they will reveal what is price rise and how if hurts the common man.
He said while there may be a temporary rise in the price of a certain commodity largely inflation had remained under control.
Responding to a question on economic growth, he said the International Monetary Fund had not reduced the country's growth projections and the economy was expected to show robust growth of over 7 per cent this year as well as the next.
"We will be the fastest growing large economy," he said.
To emphasise his point that prices have come down, Goyal shared the data of several food items.
Arhar Dal, he said was priced at Rs 109.63 per kg in 2015 but now the cost has come down to Rs 71.76.
The prices of Urad and Moong have shown a similar decease, he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)