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Food inflation over 10 pc, RBI may hike rates
This article was posted on Sep 1, 2011 and is filed under Market News
New Delhi: After a gap of over five months, food inflation entered the double-digit zone at 10.05 per cent for the week ended August 20, with Finance Minister Pranab Mukherjee describing the trend as “disturbing” and experts saying RBI may go in for another rate hike.
The weekly food inflation, measured by Wholesale Price Index (WPI), went up from 9.80 per cent on account of expensive onion, vegetables, fruits and protein-based items. The last time food inflation crossed 10 per cent was in the week ended March 12.
“Food inflation has gone up. This is really disturbing. We shall have to ensure and remove the supply constraints on food items,” Mukherjee said in New Delhi. For more visit: IBN Live.com
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