RBI to up inflation forecast in July review

PRESS TRUST OF INDIA

Hyderabad, June 18: Governor D Subbarao today indicated that the Reserve Bank would revise upwards its inflation projection for the year in view of the persistent increase in the prices of commodities and food articles.
 “Earlier, we expected the inflation rate to come down to 5.5 per cent by March 2011. We projected this number in our earlier meeting. We will revisit that number in the July policy meeting,” Governor D Subbarao told reporters here.
 Continuing the upward march, inflation crossed 11 per cent in March in the final data, while this was only 9.9 in provisionally. As per the provisional figures, headline inflation stood at 10.16 per cent in May and may be revised upwards in the final estimate. The food inflation too is hovering above 16 per cent.

Lastupdate on : Fri, 18 Jun 2010 21:30:00 Makkah time
Lastupdate on : Fri, 18 Jun 2010 18:30:00 GMT
Lastupdate on : Sat, 19 Jun 2010 00:00:00 IST



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