Wednesday, Nov 17, 2004
Wednesday, Nov 17, 2004 |
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MUMBAI, NOV. 16. With prices of fuel, sugar and metal products likely to remain high, the Centre for Monitoring Indian Economy (CMIE) today raised the inflation forecast for 2004-05 to 6.5 per cent from earlier estimate of 5 per cent. "We expect inflation, as measured by the Wholesale Price Index (WPI), in prices of fuel group, sugar, textiles, basic metal alloys and metal products to remain high in the remaining five months of 2004-05," the CMIE said in its monthly economic review here. The average inflation during the current year (2004-05) works out to 6.5 per cent against 5.4 per cent in the previous year, it said, adding this would also be higher than CMIE's earlier projection of 5 per cent for 2004-05. Inflation was higher at 6.6 per cent in April-September 2004 as against 5.3 per cent in the same period of 2003.
— PTI
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