India’s inflation may be 10 per cent
London-based publication The Economist has said that India’s inflation rate may be revised to 10 per cent from the latest estimate of 7.82 per cent as data for prices of different commodities is updated.
“Delays in data collection in India can mean big revisions to inflation… The latest wholesale price rate inflation rate might therefore be pushed up to 9-10 per cent,” noted The Economist in its cover story on global inflation.
India faces the challenge of high inflation in the coming months, especially due to rising international crude oil and food prices.
“Prices are also rising partly because loose monetary conditions in emerging economies have boosted domestic demand,” the prestigious journal said.