Inflation rises
Afp, New Delhi
India's inflation rate rose for a second week in a row on the back of higher food prices, according to official data on Friday, but economists did not expect the central bank to raise rates. Inflation rose to 4.27 percent percent for the week ended June 30, from 4.13 percent a week earlier, but was lower than the 5.21 percent logged a year ago, according to the wholesale price index, India's most closely watched cost-of-living monitor. This week's figure was still comfortably within the central bank's medium-term inflation target of 4.0 to 4.5 percent and well below its goal of "close to five percent" for the current financial year to March 2008.
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