India's inflation is expected to ease to between 6 and 7% by March, Finance Minister Pranab Mukherjee said a day after data showed a sharp easing in food inflation.

Headline inflation has barely budged from above 9% for a year now, driven mainly by high food prices. Any moderation in food is expected to give relief on the wider inflation reading.

Mr Mukherjee also reiterated that he expects growth for the 2011/2012 fiscal year to be 7.5%, with a 0.25% margin of error.

(Sourced from Reuters)