The wholesale price index (WPI) for the year rose to 8.98% in March as against 8.31% in February on higher fuel and manufactured product prices.
The reading for January was upwardly revised to 9.35% from 8.23%.
The food price index rose 8.28% and the fuel price index climbed 12.97% in the year to April 2. In the previous week, annual food and fuel inflation stood at 9.18% and 13.13%, respectively. The primary articles price index was up 11.40%, compared with an annual rise of 12.97% a week earlier.
With increased Inflation, market is expecting a 25 basis points and not a 50 basis points rate hike on May 3, 2011.
No comments:
Post a Comment