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Inflation to be at 8.2 per cent end-June
25 May 2011: Inflation rate may touch 8.2 per cent in the quarter ending June, a survey by the Reserve Bank of India (RBI) showed. That has been revised upwards from 6.4 per cent in the last survey. For the fourth quarter of FY12, the WPI-inflation forecast is 6.7 per cent. The survey was based on estimates from 25 forecasters, the RBI said.
Forecasters have assigned highest 30.2 per cent chance that it will fall in 7-7.9 per cent in end-March of 2011-12, with a downward bias. The RBI has released on its website the results of quarterly Survey of Professional Forecasters on major macroeconomic indicators of short to medium term economic developments.
For FY12, forecasters have revised their real GDP growth rate forecasts downwards to 8.2 per cent from 8.5 per cent as per the last survey. Projections for agriculture, industry and services growth are 3.1 per cent, 8.2 per cent and 9.6 per cent, respectively. For agriculture and industry, there is a downward revision and for services, there is an upward revision from the previous round of survey.
Source: Indiainfoline