Price Increases Raise India's Inflation Rate

All-around price increases have spurred India's inflation rate to touch a 17-month high of 9.9% in March, reports the Economic Times.

 

The Times says that policymakers expect high inflation to persist until June due to mounting inflationary expectations. They are concerned about rising commodity prices and a rapid increase in core inflation, or inflation stripped of fuel and food prices.

 

Annual year-on-year inflation based on the wholesale price index stayed above the central bank’s year-end projection for the third straight month, says the Times, adding that the Reserve Bank in January raised its wholesale price inflation forecast to 8.5 % from 6.5 %.

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