New Delhi, April 15 (Inditop.com) Driven primarily by higher food prices, India’s annual rate of inflation, based on the wholesale prices index, went up marginally to 9.9 percent in March from 9.89 percent a month ago, official data showed Thursday.
The annual inflation rate was 1.2 percent in March 2009.
The data released by the commerce ministry showed prices of food articles jumped 16.65 percent last month while those for primary articles rose 14.1 percent, and manufactured products was up 7.13 percent.
The persistent high inflationary trend has led many experts to conclude that India’s central bank, the Reserve Bank of India, will revise key policy rates upwards in its quarterly monetary policy review April 20.
Key policy makers have, however, been saying that inflation will cool down in the coming months.
The Manila-based Asian Development Bank in its annual report has pegged India’s annual rate of inflation for 2010 at 5 percent.
