The gap between CPI and WPI has been gradually narrowing towards the zero level. There was a time in 2015 when the gap between CPI and WPI was as high as 900 bps but that has come down to about 100 basis points in the last 3 year. This could be largely attributed to the rise in food inflation at the WPI level. Also the price of oil and other commodities has shown a bounce since the lows of January 2016 and that has also contributed to bringing the WPI out of the negative zone and closer to the CPI. The dichotomy that we are getting to see is that while food inflation is showing up at the WPI level, the food inflation is showing a falling trend in the last few months on the CPI side. On the positive end, this at least takes away the immediate risk of the economy slipping into an economic slowdown.