Inflation a tad lower at 6.89 per cent in March
17 Apr 2012
India's wholesale price inflation eased marginally to 6.89 per cent in March 2012 from 6.95 per cent in the previous month as a softening of manufactured goods prices reduced the pressure of high commodity and food prices.
The wholesale price index (WPI), India's main inflation indicator, however, was higher year-on-year in March 2012, against the 6.70 per cent recorded in March last year.
Build-up of inflation in the financial year so far was lower at 6.89 per cent compared to a build up of 9.68 per cent in the corresponding period of the previous year.
The easing of inflationary pressure, although slight, has stoked expectations of the Reserve Bank of India (RBI) cutting interest rate for the first time in three years when it announces is policy rates tomorrow.
Meanwhile, the Central Statistical Office (CSO) has revised the annual rate of inflation for January upwards to 6.89 per cent from 6.55 per cent announced earlier, an official release said.
The revision follows the final corrected index for January 2012, which stood at 158.2 compared to 157.7 (provisional) reported earlier.
.webp)
