Friday 14 December 2012

Inflation seen picking up in November

Posted by Ways2Capital on Friday, December 14, 2012 with No comments
Inflation seen picking up in November 

Indian data due out on Friday is expected to show inflation accelerated in November because of a weak rupee and festive consumer demand, dampening any lingering hopes of a central bank rate cut next week to boost the stuttering economy.

A Reuters poll forecast the wholesale price index, India's main inflation measure, rose an annual 7.6 percent in November, up from 7.45 percent in October.

The government will release the data at 0630 GMT.

Asia's third largest economy is headed for the weakest full-year growth in a decade, at about 6 percent, far below the near double-digit pace before the global economic downturn.

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