Inflation will ease to 5-6% in FY '12: C Rangarajan

The government expects headline inflation to ease to around 5-6A% in the financial year starting on April 1, the chairman of the prime minister's economic advisory council, C Rangarajan said on Wednesday.

"We do not believe a high growth rate requires high inflation," he said during a speech. "Inflation has to be re-anchored to the comfort zone of 4 to 5%," he added.

He also said India's current account deficit would be below 3% in the current financial year, which ends on March 31.    

The inflation rate  has remained stubbornly high in the past year and prompted a series of rate hikes by the central bank.

The Wholesale Price Index (WPI) rose more than 8% at the last reading in January.