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FINANCIAL NEWS
Indian inflation rises to 10.16% in May
14 Jun 2010
(MENAFN) A report issued by the Indian Ministry of Commerce and Industry showed that the country?s most-tracked inflation indicator wholesale price index mounted to 10.16 percent year on year in May, 1.7 percent higher from 9.59 percent in April, AP reported.
The high inflation number echoes to near-record 17.6-percent hike of industrial production index in May and is expected to force Indian central bank to raise interest rate prior to its policy meeting in the end of July.
Meanwhile, the government revised the inflation figure in March to 11.04 percent from provisional 9.9 percent, in comparison of upward-revised 10.06 percent of inflation in February.
The inflation continues to spread to the manufacturing sector from food articles though processed food prices saw sequential dip of 1.1 percent in May.
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