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Checking inflation
By Our Special Correspondent
NEW DELHI,
AUG. 23.
The price reduction by the two major players — Tata Steel and Steel Authority of India — is expected to dampen inflationary pressures in the economy as steel prices had been identified as one of the major contributory factors for inflation going up to near 8 per cent.
The Chairman of the Tata Group, Ratan Tata, had actually highlighted this point by emphasising that the recent upward price spiral was having a dampening effect on the current consumer demand for goods and had called upon "responsible corporates to exercise moderation at all levels.
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