by Wadsam | September 15, 2012 9:47 am
India’s inflation rate hit 7.55% in August, higher food prices being the main reason behind the rise.
Analysts had expected the August inflation rate to be about 6.95%.
The data comes ahead of a Reserve Bank of India meeting, due on Monday, to decide interest rate policy.
According to Madan Sabnavis, chief economist at Care Ratings, the stimulus package released by the US is likely to push up commodity prices and add to inflation.
India’s economy may not see a cut in interest rate, as inflation expectations are still quite high.
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