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Monday, March 31, 2008

India cabinet panel to discuss inflation Monday

The Indian government has convened an emergency meeting of the Cabinet Committee on Prices on Monday to discuss possible solutions to curb inflation, which hit a 14-month high earlier this month, the Economic Times said on Sunday.
The inflation data released on Friday was "quite disturbing," Finance Secretary D. Subbarao said, according to the paper.
Data on Friday showed annual inflation at 6.68 percent in the 12 months to March 15, higher than the previous week's 5.92 percent.
It is also well above 5 percent near which the central bank wants inflation contained by the March 31 fiscal year end.

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