Indian Inflation May Touch 17% in the month of September
Global Investment Banker Barclays Capital projected Indian inflation at 17% by September due to rise in fuel prices, reported the media. The banker also foresees inflation to remain in double digits till May 2009.
The bankers report said that the government would likely increase fuel prices between 10% and 20% in September to control fiscal risks. The government raised the retail petroleum prices with effect from June 5 that led the inflation to touch 11.05% for the week ended June 7, 2008.
The report added that RBI is also expected to tighten further the monetary policy by hiking short-term lending rate and mandatory cash requirements for banks to control inflation.
|
07-14-2008, 01:50 AM
Linear Mode
