It had been noticed that for India inflation had risen to its maximum level during this financial year, peaking at 7.81 percent in the month of September. There has been an increase in the price of wheat, cereals and diesel; this development might force the Reserve Bank Of India to cut interest rates at its monetary policy.
As per the Wholesale Price Index, the inflation measured was 7.55 percent in the month of August, however it was 10 percent in the month of September last year. The price hike in diesel led to inflation reaching 8.94 percent from 0.36 percent, after the price of petrol was raised by Rs. 5 in September.
