The finance ministry on Monday projected consumer inflation for July to remain in a range of 3.5-4.5 per cent, citing stable prices and improved supply conditions, as price pressures ease further after the previous fiscal year’s sharp decline.

Inflation stood at 3.2pc in June, the ministry said in its monthly economic report, while average inflation for the fiscal year ending June 30 dropped to 4.49pc, a nine-year low, from 23.4pc the year before. The country’s fiscal year begins on July 1.

The ministry said the economy is expected to sustain its recovery in the early months of fiscal........

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