Inflation at 40 Mth High

The Indian inflation touched a record 40 month high to 7.41% mostly by the centralization and rise in prices of Iron and Steel. The annual inflation rate was 5.94% during the corresponding week of the previous year. The Government of India has banned primary exports of Iron and Steel and Cement with immediate effect fearing the collapse of coalition Government.

However, their is a reason to cheer as well, the Indian Industrial Output for the month ended Feb-08 has risen back to 8.5% from 5.3% in Jan-08.