Inflation eases to 7.48% in Nov

• A gradual easing in the food price spiral brought down overall inflation to its 11-month low at 7.48 per cent in November from 8.58 per cent in the previous month, raising hopes that it will eventually decline to the desired level of about 5.5-6 per cent by the end of the fiscal.
• With this, the Wholesale Price Index-based headline inflation has not only fallen close to its December 2009 low of 7.31 per cent but has also vindicated Chief Economic Advisor Kaushik Basu's projection earlier this month that the overall price spiral would be around 7.50 per cent for November.