From Indonesia to India, where Inflation is likely to be a key issue in general elections there.
Sri Jegarajah explains.
Inflation's down but not out.
Good news for the embattled Congress Party-led government ahead of elections.
But little relief for these consumers at South Mumbai's largest fresh produce market. They fear prices could spike just as quickly if a prolonged drought or heavy monsoon rain cuts agricultural output.
The price of the humble onion, a staple of indian cooking, has stabilized at 20 rupees a kilo from about four times as much in January. But managing volatile food costs will be a challenge for whoever's elected.
"It is definitely an election issue. But the way that prices have increased earlier, now they have stabilized, but still they are above comfort levels for a normal man. I do hope whoever comes to power, will bring down prices in such a manner that one should give a sigh of relief to that."
Economists say central bank governor Raguram Rajan's strategy to control inflation by tightening monetary policy has paid off. But major structural work still needs to be done.
Parts of india's sprawling rail network dates back to its colonial era and those infrastructure bottlenecks have kept inflation high.
An ambitious infrastructure renewal program is a center-piece of the opposition BJP's manifesto. And if implemented decisively, could reduce inflation materially over the longer term.
[Siddhartha Sanyal, Chief India Economist, Barclays] "The whole process of inflation, there is an element of infrastructure upliftment, but at the same time, if there is very and able admininstrative measures, that can also help a lot."
India's central bank has done its part to bring inflation down. Now it's over to the next government.
Sri Jegarajah, CNBC in Mumbai.
And that wraps up this edition of the Business Daily.
I'm Julia Wood, reporting from CNBC's Asian headquarters.
Follow us on Twitter: @CNBCWorld