India's inflation accelerates

10/14/2013 | Bloomberg

India's wholesale price gain for September outstripped estimates that called for a slight moderation from August. The 6.46% year-on-year rise was up from 6.1% in August, fueled by higher food costs and a weak rupee. "This inflation reading further strengthens the case for a hike in the repurchase rate," said Prasanna Ananthasubramanian, a ICICI Securities Primary Dealership economist in Mumbai.

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