NEW DELHI,Jan16: Inflation based on the wholesale price index slowed to 7.47% in December, compared to 9.11% in the previous month.This is the slowest pace of price rise in two years and is expected to ease the pressure on the Reserve Bank of India (RBI) to cut interest rates. With industrial growth too picking up, RBI is widely expected to keep a pause on rate action when it reviews the policy later this month.The moderation in december was due to easing of food prices. Primary articles inflation slowed to 3.1% from 8.5% in November.Inflation in the manufactured goods and fuel and power sector eased only marginally, keeping the pressure.In the manufactured goods segment, inflation rate moderated to 7.4% in December from 7.7% a month ago.For fuel and power, the data released at noon showed the rate of inflation slowed to 14.9% from 15.5% in December.ToI reported on Monday that inflation will be of the order of 7.4-7.5%.The latest numbers will provide relief to housewives who have been grappling with high inflation as policy action has been weak.
