Inflation likely to cross 7 pc by March

If that happens, inflation would be much more than five per cent as projected by RBI, which is facing the tough task of tackling inflationary pressures and promoting growth. The central bank’s monetary policy review is slated for October 27.

Continuing its upward trend, wholesale price inflation inched closer to the one per cent mark at 0.83 per cent for the week ended September 19 mainly due to increase in food prices.

In the wholesale market, the annual rise in potato price was about by 81.18 per cent, while sugar jumped 44.47 per cent, according to government data.Similarly, vegetables rates soared by 49.44 per cent and pulses by 20.05 per cent in the review period. Crisil’s Principal Economist D K Joshi said inflation is moving upwards at a quicker rate and is likely to touch 7 per cent mark by the end of current fiscal.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry