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Oil prices put pressure on inflation
 
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January 24, 2006 13:11 IST

Concerned over continuing upward spiral in global oil prices, Reserve Bank of India [Get Quote] on Tuesday warned that the inflation risk remained high and will persist well into 2006.

The consequent rise in domestic prices of LPG and kerosene could push up inflation in 2006-07, the central bank stated in the third quarter review of the Monetary Policy.

The Monetary and Credit Policy 2005-2006

However, it retained inflation projection at 5-5.5 per cent.

It also indicated a pick up in aggregate demand getting stronger with some manageable spill over into the external sector in the form of widening trade and current account deficits.


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