Inflation in India at Highest Level for 13 Months

14 September 2011 - Which Way to Pay

Email Article Print Article
    


Inflation in India at Highest Level for 13 Months

August saw the rate of inflation in India accelerate to 9.78%, the highest level in 13 months. The hike in rate highlights the difficult choices that face policy-makers at the moment regarding sluggish economic growth and ever-increasing inflation. 

The rate is up from 9.22% in the previous month, which is higher than expected. The data comes just 2 days following India’s industrial production figures, which showed that growth slowed considerably in July, dropping to 3.3% from 8.8% in June.

Inflation is not set to be helped by the sliding of the Indian rupee in recent days to the lowest in 2 years against the dollar. As India has such a high dependence on oil imports, the weak currency will contribute considerable to inflationary pressures.

India’s finance minister, Pranab Mukherjee, made a statement following the inflation data, saying ‘it is perilously close to the double digit figure. This is the time of stress, and we shall have to maintain our nerve to see how we can overcome this problem.’

The Reserve Bank of India is set to review interest rates this Friday, no doubt the recent figures will present challenges to the central bank. The rates have been raised eleven times over the last 18 months in an attempt to curb spiraling prices, as the cost of food and now even manufactured goods burgeons.

news_05.jpg
 

PRODUCT RANGES:

CURRENCY EXCHANGE
Compare Foreign Exchange and Currency >>

LOAN PRODUCTS
Compare Loan and Debt Products >>

CARD PRODUCTS
Compare Cards Products >>

MONEY PRODUCTS
Compare Money Products >>

INSURANCE PRODUCTS
Compare Insurance Products >>

When the planning starts for that special day in everyone's lives , There is always the worry and stress of how much strain it is going to put on your financial situation . Marriage loans are helping lots of people to ease this stress.
08 August 2015
Which Way To Pay
Marriage loans have been introduced to help prepare for the expense you will incur when celebration the most special day of everyone's life.
Read More >>
As everyone wants that big day to be perfect , there is also a hefty cost that comes with it .
14 May 2015
Which Way To Pay
Marriage isn't a cheap affair that's why Marriage loans have proven so popular across India.
Read More >>
Everyone want the best education , But financially this can be a worry
07 October 2014
Which Way To Pay
Getting the best education is the main priority in most people's lifetime.
Read More >>