India's May WPI inflation eases to 4.70pc y/y

NEW DELHI: India's headline inflation slowed for a fourth straight month in May to 4.7 percent from a year earlier, but a slump in the rupee is likely to prevent the central bank from lowering policy rates on Monday despite the economy slowing to a decade-low level.

May's reading, the lowest in more than three years, was less than the 4.87 percent estimated by analysts in a Reuters poll. The wholesale price index, India's main inflation measure, rose an annual 4.89 percent in April.

The reading for March was revised to 5.65 percent from 5.96 percent, data released by the Ministry of Commerce and Industry on Friday showed.