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October 22, 2001
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Reserve Bank of India sees soft inflation trend

CREDIT
POLICY
The outlook for India's inflation rate, currently at its lowest in 2001, is benign, a senior central bank official said on Monday.

"The general trend of inflation has been soft and the inflation outlook is also soft," Reserve Bank of India deputy governor Y V Reddy told CNBC television channel after the central bank's mid-year review of monetary and credit policy was released.

He was responding to a comment on the divergent trends in India's inflation rates.

The inflation rate measured by the wholsesale price index fell to a calendar year low of 3.18 per cent in the week ended October 6 from 3.32 per cent a week earlier. It was 7.37 per cent in the same week last year.

In contrast, latest government data showed that the inflation rate measured by the consumer price index rose to 5.19 per cent in August from 4.04 per cent the previous month and 3.99 per cent last year.

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