RBI says rise in inflation due to increase in fuel, raw material prices
Reserve
Bank of India (RBI) today, 28 July 2008, said rise in inflation to
nearly 12% in mid-July 2008 reflected some rise in fuel and raw
material prices as well as strong demand but some state-set petroleum
products prices may not yet match the increase in crude prices.
The
central bank also said supply side pressures on global food prices did
not appear to be abating. RBI?s quarterly monetary policy review is
scheduled on Tuesday, 29 July 2008.
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