Govt resists price rollback, for now
The government will wait a few days before reviewing a steep petrol price increase, Oil Minister S. Jaipal Reddy said on Friday, resisting protests and pressure from coalition allies to roll back the unpopular move welcomed by investors. Full Article
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Indian annual inflation at 11.99 pct on Sept. 20
NEW DELHI |
NEW DELHI Oct 3 (Reuters) - India's wholesale price index INWPI=ECI rose 11.99 percent in the 12 months to Sept. 20, below the previous week's annual rise of 12.14 percent, government data showed on Friday.
The rate was below a median forecast of 12.13 percent in a Reuters poll of analysts.
Inflation for the week ended July 26 was revised up to 12.53 percent from 12.01 percent.
The annual inflation rate was 3.51 percent during the corresponding week of the previous year.
The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is released weekly. (Reporting by C.J. Kuncheria and Rajkumar Ray, Editing by Mark Williams)
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