NEW DELHI: The country' widely watched wholesale prive index rose 8.66% in April, lower than the 9.04% in March but economists say inflation will creep up higher in the months ahead given the expected increase in diesel prices.
The worrying aspect of the data released on Monday was that the government revised the February inflation number to 9.54% from the previously reported 8.31%. Economists say this highlights the inflationary pressures in the economy and the impending increase in diesel prices will further add to the pressure.
Some economists say the WPI inflation is expected to hit double-digit by September. The Reserve Bank of India is widely expected to again raise interest rates in its June policy review. It has already said that it stands ready to sacrifice some growth to tame inflation.
On Saturday, oil firms raised petrol prices by Rs 5 per litre which is expected to upset household budgets.
toi
The worrying aspect of the data released on Monday was that the government revised the February inflation number to 9.54% from the previously reported 8.31%. Economists say this highlights the inflationary pressures in the economy and the impending increase in diesel prices will further add to the pressure.
Some economists say the WPI inflation is expected to hit double-digit by September. The Reserve Bank of India is widely expected to again raise interest rates in its June policy review. It has already said that it stands ready to sacrifice some growth to tame inflation.
On Saturday, oil firms raised petrol prices by Rs 5 per litre which is expected to upset household budgets.
toi
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