Inflation seen below double digits by March 2009

Inflation seen below double digits by March 2009
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First Published: Thu, Aug 07 2008. 01 41 PM IST
Updated: Thu, Aug 07 2008. 01 41 PM IST
New Delhi: India’s headline inflation rate, which is ruling at a 13-year high just below 12%, is expected to fall to below double-digits by the end of the fiscal year, a top government official said on 7 August.
Montek Singh Ahluwalia, deputy chairman of India’s Planning Commission, which charts out five-year growth strategies, also said the softening of global crude oil prices was a “welcome development”.
The Indian government will release inflation data for the 12 months to July 26 at around 6:00 pm local time (1230 GMT) and a Reuters poll forecasts a reading of 12.02 percent, marginally higher than the previous week’s 11.98 percent.
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First Published: Thu, Aug 07 2008. 01 41 PM IST