Inflation at two-year high of 6.12 percent

Friday, 19 January 2007, 06:00 Hrs
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New Delhi: Inflation in India based on wholesale prices has zoomed to a two-year high of 6.12 percent, raising worries over interest rates and real economic growth.

The year-on-year inflation, measured by the official wholesale price index, stood at 6.12 percent for the week ended Jan 6, compared with 5.58 percent for the week before, data released by the government showed Friday.

This was the highest level since 6.56 percent on Dec 25, 2004. The rise in the index was fueled mainly by increase in prices of food articles and fuels.

It is also for the first time that the inflation rate has crossed the six percent mark during the current fiscal.

On Dec 30, inflation had already crossed the forecast of 5.5 percent made by the Reserve Bank of India (RBI) for the fiscal year ended March 31. The hardening of prices has also come ahead of the monetary policy by RBI Jan 31.

Source: IANS
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