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Wholesale Inflation Highest in 6 Months at 3.59%
November 22, 2017
As a result of higher food prices, the wholesale price inflation jumped to 3.59% last month, the highest rate in the past 6 months. The prices of many food items have increased on a year-over-year basis: onion 127%, potato 44%, and vegetables 36.61%.
According to some analysts, the GST Council’s recent decision of lowering tax rates of 178 items could bring the inflation down in the next few months.
The Reserve Bank of India will hold a policy review meeting on December 6.
