Skip to comments.Inflation seen staying uncomfortably high in October (India)
Posted on 11/11/2013 11:44:19 PM PST by TexGrill
NEW DELHI: Inflation is forecast to have risen to uncomfortable levels for policymakers in October due to stubbornly high food prices, adding to the pressure for further interest rate rises despite slowing economic growth.
Data on Tuesday is forecast to show annual consumer inflation at 9.9 percent in October, up slightly from September, and figures on Friday are expected to show wholesale inflation running at an eight-month high of 6.90 percent, according to Reuters polls of economists.
In a more positive sign, factory output is forecast to have risen 3.5 percent in September from a year earlier, much faster than August's 0.6 percent growth.
High consumer inflation, exemplified by a recent hike in onion prices, is a worry for Prime Minister Manmohan Singh's Congress party as it campaigns for five state elections starting in November, a warm up for national elections due by next May.
(Excerpt) Read more at economictimes.indiatimes.com ...
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