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According to government data, WPI increased by 0.92% in a year to Oct. 3, more than last week’s yearly growth of 0.7%.
The comparison was made on the basis of the average forecast of a 1.46% increase in a Reuters poll.
The yearly inflation rate stood at 11.49% during the same week in the year 2008.
The forecasters in the Private Sectors believe that inflation could touch as high as 8% by the end of the financial year in March, which is more than the comfort level of about 5% of the central bank.
However, the Reserve Bank of India (RBI) may still be not ready to bring changes in the interest rates, when it will be gearing up for a review of the policy at the quarterly meet on Oct 27, as it lays more focus on growth.
The economic advisor of the Prime Minister holds that inflation could touch the range between 5 and 6 % by the end of 2009-10.
WPI (wholesale price index) is monitored more intensely than the CPI (consumer price index), which is reported every month, as it includes larger number of items and is issued every week. The Economic Times
October 15, 2009
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