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FACTBOX - India's anti-inflation measures taken so far

Fri May 9, 2008 5:52pm IST
 
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REUTERS - Government and central bank have in recent weeks taken a slew of measures to tame annual wholesale price inflation, which has soared to its highest levels in three and a half years at above 7 percent.

Following are some of the recent steps taken to calm prices, which threaten to dominate a series of local and national elections over the next 12 months:

THIS WEEK:

FUTURES TRADING BAN - Futures trading in four commodities -- soyoil, chana, rubber and potato -- was suspended on Wednesday for a period of four months after criticism from government allies that futures had contributed to rising inflation.

Futures trading in wheat, rice and some pulses had already been stopped.

STEEL PRICES - Leading domestic steel firms bowed to government pressure to cut prices on Wednesday, pledging 5 to 10 percent reductions.

Public and private steel makers said they would cut the price of long products used in construction by 2,000 rupees ($48) a tonne, or 5.5 percent, and those of flat products by 4,000 rupees ($97), or about 10 percent.

EARLIER:  Continued...

 
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GOLD $2,959.00 $2,960.00
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