India's Inflation Rate Unchanged at 3.5% in Week Ended Dec. 29
India's inflation remained unchanged in the last week of December, easing pressure on the central bank to raise interest rates further.
Wholesale prices rose 3.5 percent in the week ended Dec. 29 from a year earlier, same as the previous week, the Ministry of Commerce and Industry said today in New Delhi. Analysts had forecast inflation at 3.52 percent.
The Reserve Bank of India has raised its benchmark interest rate nine times since October 2004 to help tame prices, succeeding in dragging down inflation from a two-year high reached in January 2007. The central bank next meets on Jan. 29 to review rates.
-By Kartik Goyal
India's inflation remained unchanged in the last week of December, easing pressure on the central bank to raise interest rates further.
Wholesale prices rose 3.5 percent in the week ended Dec. 29 from a year earlier, same as the previous week, the Ministry of Commerce and Industry said today in New Delhi. Analysts had forecast inflation at 3.52 percent.
The Reserve Bank of India has raised its benchmark interest rate nine times since October 2004 to help tame prices, succeeding in dragging down inflation from a two-year high reached in January 2007. The central bank next meets on Jan. 29 to review rates.
-By Kartik Goyal
