15 April,2010 01:19 PM IST | | Agencies
Driven primarily by higher food prices, annual rate of inflation, based on the wholesale prices index, went up marginally to 9.9 percent in March from 9.89 per cent a month ago, official data showed Thursday.
The annual inflation rate was 1.2 per cent in March 2009.
The data released by the commerce ministry showed prices of food articles jumped 16.65 per cent last month while those for primary articles rose 14.1 per cent and manufactured products was up 7.13 per cent.
The persistent high inflationary trend has led many experts to conclude that the Reserve Bank of India, will revise key policy rates upwards in its quarterly monetary policy review April 20.
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Inflation fell to 2.2 per cent in Europe, clearing the way for a European Central Bank rate cut in September
Key policy makers have, however, been saying that inflation will cool down in the coming months.
The Manila-based Asian Development Bank in its annual report has pegged India's annual rate of inflation for 2010 at five per cent.
