May 14, 2010 6:29 PM

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Inflation eased marginally

Inflation eased marginally to 9.59 per cent in April, but cost of some vegetables and metals remained high. The wholesale price-based inflation cooled from 9.90 per cent in March mainly on account of decline in prices of fruits, onions, wheat and cereals. Meanwhile Chief economic advisor to the finance ministry Kaushik Basu has said that inflation will continue to fluctuate over the next three months before it starts falling steadily. Talking to reporters in Kolkata, Mr. Basu however, said that the figures for June will go up due to the base effect. To a query, he said that it is very unlikely that inflation would touch the double-digit mark.On the appreciating rupee, Mr. Basu said that it was becoming a cause for concern for exporters.Mr. Basu said that some market-based action is required to correct the exchange rate and it is within RBI's domain.

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