RBI warns of uncomfortable inflation levels
The Reserve Bank of India's Mid-Quarter Monetary Policy Review, published on Thursday, said inflation in India remained elevated at "uncomfortable levels".
Consumer price inflation for industrial workers rose from 8.8% in March 2011 to 9.4% in April 2011. Meanwhile, gross domestic product growth decelerated to 7.8% in the fourth quarter of 2010, from 8.3% in the previous quarter.
The report said domestic inflation remained "high" and "much above the comfort zone" for the central bank. Non-food
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