FE reported that India’s inflation grew by 1.51% as of October 17 on the back of higher food prices, vindicating Reserve Bank's hawkish stance of slowly withdrawing its easy money policy.
The wholesale prices-based inflation stood at 1.21% in the previous week. During the week, tea, mutton and arhar and manufactured food items including edible oil and gur turned expensive.
Projecting inflation to touch 6.5% mark by the end of the current fiscal the RBI in its quarterly monetary policy review on October 27 had taken steps to suck out liquidity...
