India''s inflation should decline further in the coming weeks and the government may consider more steps, such as banning futures trading in some essential commodities, the trade minister said on April 20.The fact of the matter is this: we have taken steps (and) the decline has started, Kamal Nath told the news channel CNN-IBN in an interview aired on Sunday, according to a transcript provided by the channel.
The decline is small and we expect the decline in inflation to be much more.Inflation hit a three-year high at the end of March, with the wholesale price index rising by 7.41 percent over the preceding year. The rate slowed slightly to 7.14 percent in the 12 months to April 5, according to government data. The government has already ordered several duty cuts and export bans in recent weeks to ease price pressures. On Thursday, the Reserve Bank of India raised the cash reserve ratio by 50 basis points to 8 percent to calm inflation in Asia''s third largest economy.
The decline is small and we expect the decline in inflation to be much more.Inflation hit a three-year high at the end of March, with the wholesale price index rising by 7.41 percent over the preceding year. The rate slowed slightly to 7.14 percent in the 12 months to April 5, according to government data. The government has already ordered several duty cuts and export bans in recent weeks to ease price pressures. On Thursday, the Reserve Bank of India raised the cash reserve ratio by 50 basis points to 8 percent to calm inflation in Asia''s third largest economy.
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