Poor monsoon likely to put pressure on inflation

Poor monsoon likely to put pressure on inflation
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First Published: Tue, Aug 18 2009. 10 25 PM IST
Updated: Tue, Aug 18 2009. 10 25 PM IST
New Delhi: The Reserve Bank of India (RBI) deputy governor K.C. Chakrabarty said on Tuesday that the weak south-west monsoon could put upward pressure on inflation. “The expectation is there (of upward pressure on inflation). The erratic monsoon may put pressure on inflation,” Chakrabarty told reporters on the sidelines of a meeting of regional rural banks. RBI has projected the headline inflation rate based on the Wholesale Price Index to rise to around 5% by March.
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First Published: Tue, Aug 18 2009. 10 25 PM IST