WPI inflation may rise 6 pc by Mar 2010: RBI

Posted By: Staff
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New Delhi, Sep 18: Reserve Bank of India (RBI) on Friday, Sep 18 said the wholesale price index (WPI) may rise to 6 percent by Mar 2010.

The wholesale price index turned positive for the first time in 13 weeks, rising to 0.12 percent for the week ended Sep 5 on inflating prices of essential food items.

RBI Deputy Governor K C Chakrabarty said, "We have always said by Mar 2010 it should be 5 percent. It may become 6 percent."

He said if procurement prices increase 10 percent every year, food inflation cannot be less than 10 percent.

"This is also partially policy oriented ... We want to give more money in the hands of farmers," he said.

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