Economy / India
Inflation Stabilising…
September 2004 | Market StrategyIndia's wholesale price inflation (WPI) appears to have peaked, after easing to 7.94% in the year to the week ending August 14, from a 3½-year high of 7.96% in the year to the end of the previous week. Prices have been rising thanks to a combination of record high oil prices - in a context where India imports 70% of its crude requirements - increasing costs of manufactured products (which make up 60% of the WPI index), and higher food prices driven up by fears of weak monsoons. Now that NYMEX crude oil has come back to around US$43.00/b, from
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