India's inflation rate dips as food prices fall
AFP, New Delhi
India's weekly inflation rate fell slightly to 7.10 percent due to a drop in prices of food and manufactured goods, official figures showed Friday. Inflation for the week to October 9 was down from 7.20 percent the previous week. India's new coalition government has been desperately trying to keep inflation under control in the face of rising global oil prices, a crucial issue in a country which imports about 70 percent of its energy requirements. It has eased tariffs on various goods and oil products in an attempt to dampen imported inflation while tightening credit at the banks.
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