The consumer price inflation (CPI) has surged to 10.03 per cent for August, a government release has stated. The CPI data in double digits would ease pressure on the RBI to cut rates later in October.
The wholesale price index accelerated in August 2012 to 7.56, as against 6.86% in the corresponding period of last year.
Inflation in India continues to remain high and has accelerated in the last few months. The diesel price hike is likely to ensure that inflation will remain at elevated levels in the next few months.
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