Headline inflation, as measured by the Wholesale Price Index (WPI) came down to reach a nine month low at 8.58 per cent in October primarily due to fall in prices of primary articles, particularly food items during the month.
Wholesale inflation stood at 8.62 per cent in September and at 1.48 per cent during the corresponding period in 2009. Inflation, which had been in double digits for five consecutive months beginning March 2010, moderated to single digit level in August 2010.
Finance Minister Pranab Mukherjee said he was expecting the annualised inflation rate to be above 6 per cent after which it will come down to six per cent, the target of the Reserve Bank of India (RBI) by March 2011.
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