Inflation Goal To Be Reached At The Expense Of Growth

Relaxed inflationary pressures, combined with a low base, brought India's wholesale price inflation rate down to a three-month low of 5.74% y-o-y in the week ending March 31. Import duty cuts - which reduced prices of cement, edible oil and other manufactured goods - and a stronger rupee were accommodating, and to the relief of government officials it showed that the inflation rate, which has remained above the official 5.0-5.5% target range since last December, has begun to respond to attempts to rein it

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