Inflation in India eases to 4.07 percent

February 15th, 2008 - 4:09 pm ICT by admin  

A file-photo of Manmohan Singh

New Delhi, Feb 15 (IANS) The rise in India’s wholesale price index slowed slightly at 4.07 percent for the week ended Feb 2 against 4.11 percent in the preceding week, data released Friday showed. During the corresponding week last year, the inflation rate stood at 6.58 percent.

The wholesale price index data is released weekly and considered the benchmark inflation indicator in the country.

Earlier, while addressing industry leaders at a meeting here Friday, Prime Minister Manmohan Singh said: “Inflation is an iniquitous tax. It is essential that we ensure that the poor are not adversely affected by high inflation.”

This comes a day after the Reserve Bank of India (RBI) expressed concern over rising inflation rates.

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