Asia Times, in its November 16, 2012 article, reports that India's inflation pressures stay high.
Extract :
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India's latest
inflation figures, as shown in October
Wholesale Price Index (WPI) data released on Wednesday, came in at 7.45% year-on-year (y-o-y), lower than the 7.81% increase recorded during September.
What is disconcerting is that the August inflation number
was again revised upward, this time by 0.46 percentage
points to 8.01%, the highest since
September 2011. Between January 2010 and August this year - 32 months - the
inflation number was unchanged only once; thrice it was
revised lower while it was
This continuous upward revision brings to question the
credibility of the inflation data and, given its clear
upward bias, makes it that
much more difficult for
the Reserve Bank of India to make
an appropriate monetary policy call. There is every likelihood that the September and October data will be revised upward,
perhaps again beyond 8%.
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