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Inflation rises to 4.28 pc

Written by: Staff

New Delhi, Mar 24 (UNI) The annual rate of inflation stood at 4.28 per cent for the week ending March 11, as against 4.02 per cent in the previous week.

The inflation rate, calculated on a point-to-point basis, was 5.40 per cent during the same period last year.

The Reserve Bank of India (RBI) raised the benchmark reverse repo rate by a quarter percentage point to 5.5 per cent in January, citing inflation risks from rising asset prices.

RBI Governor Dr Y V Reddy in his last credit policy had assured that the steps will be relooked in course of time. ''We need to stabilise the inflationary expectations,'' he said adding that RBI has commitment to price and financial stability.

The central bank is due to release annual policy statement for the year 2006-07 on April 18.


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