India's inflation surge may mean rate rise

India's key inflation rate rose to a three-year high, said the government on 4 April, raising the possibility of a rate rise being imposed by the Reserve Bank of India.

Data from the Ministry of Commerce and Industry showed that the wholesale price index-based inflation rate hit 7% year on year in the week ending March 22, up from 6.68% a week earlier.

This meant that for the fifth week in a row, the inflation rate breached the central bank's stated "comfort level" of 5 % for the financial year

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