After the inflation rate moved up to a nine-month high to 5.11%, RBI governor YV Reddy stated that India’s monetary plan has already included the rising food and fuel prices.
According to the data, the annual wholesale price inflation rate touched 5.11% in the week ended March 1, and the prices have gone up by 5.01% during the last week.
It is projected that inflation will go up in the coming weeks. Mr. Reddy had recently expressed his worry over increasing food and energy prices.
The central bank wishes to keep inflation around 5% during the 2007/08 fiscal year ending March 31.