The wholesale price index (WPI), which is more watched in India as compared to the consumer price index (CPI), has finally started showing signs of moderation. The inflation has now slipped down to 12.34% as compared to the earlier high of 12.63%. This decline has been mainly due to the easing of global crude prices to near about $ 104 and also due to a slight drop in prices of essential goods like fruits, vegetables, eggs, meat and fish along with the decline in the prices of rice, most of the pulses and mustard oil. Also the tightening measures taken up by the RBI has finally started bearing fruit. However, RBI governor, Duvvuri Subbarao believes that it is still too early to start excepting this as a trend, he would rather prefer to wait and watch. Commerce and Industry minister Kamal Nath was also of the opinion that the measures taken to control inflation had yielded results and the prices are going to see a further down trend. There have been a number of tightening measures that were taken by the Government and the Apex bank, RBI that included duty cuts and interest rates hikes, to control the inflation rate which had climbed up as high as 12.63 per cent two weeks ago.