Indian inflation eases in April

| May 16, 2011 | 0 Comments
Indian inflation eases in April

India’s wholesale price index, the country’s main inflation rate, eased last month to an annual 8.66% from March’s figure of 9.04%.

However, the figure was still above the 8.48% expected by analysts and comes as fuel and food prices continue to rise.

The food price index increased 8.71%, while the fuel price index rose 13.32% last month, according to the Ministry of Commerce and Industry.

In a bid to tame inflation, the Reserve Bank of India (RBI) has lifted interest rates nine times in the last 14 months and the consensus is for a 25 basis point rise on 16 June when the bank has its next meeting.

Inflationary pressures are rife in Asia and many central banks have opted to hike interest rates in an attempt to combat rising prices.

In recent months, central banks in China, Indonesia, Vietnam, Thailand and South Korea have all increased interest rates.

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