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Inflation static at 5.29 per cent

Written by: Staff
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New Delhi, Nov 24: The annual rate of inflation remained static at 5.29 per cent for the week ending November 11, from 5.30 per cent during the previous week, due to lower energy and milk prices.

The inflation rate calculated on a point-to-point basis, stood at 4.09 per cent during the corresponding week of the previous year, according to official figures released here today.

RBI in its recent Monetary Policy has retained the target of inflation rate in the range of 5-5.5 per cent this fiscal.

''There is no material change since our mid-term review,'' Deputy Governor Rakesh Mohan said on Tuesday.

The central bank on October 31 hiked its overnight lending rate for the fourth time this year in a bid to calm red hot credit growth and reign in inflation amid a fast expanding economy.

UNI

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