Inflation rises to 1.51pc, justifies RBI policies

Posted By: Staff
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New Delhi, OCt 29: Higher food prices took the India's inflation rate up to 1.51 per cent as of Oct 17 as opposed to the 1.21 per cent from the previous week.

Tea, mutton and arhar and manufactured food items including edible oil and gur turned expensive during the week.

This news comes as a vindication for the Reserve Bank of India's (RBI) position of slowly withdrawing its easy money policy.

In its quarterly monetary review, the RBI took steps to dry out liquidity from banks apart from raising the Statutory Liquidity Ratio (SLR).

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