Indian inflation hits 6.21 percent, nears ten-month high

24 Jan, 2004

India's inflation rate hit a 39-week high of 6.21 percent, fuelled mainly by higher prices of manufactured products and food items, government data showed Thursday.
But economists said the rise was mainly due to cyclical factors and that inflation was under control.
The Wholesale Index Price Index, measuring the price of a range of items sold to retailers, rose to 6.21 percent in the week ended January 10 from 6.09 percent the previous week and 3.84 percent in the corresponding week a year ago.
Finance Minister Jaswant Singh said earlier this week he was confident that average inflation for the financial year ending March would remain within a range of 4.0 to 4.5 percent targeted by the central bank.

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