Zee Media Bureau
New Delhi: Wholesale inflation rose to 14-month high of 7.52 percent in November from 7 percent in October, government data showed on Monday.
Industrial production output shrank 1.8 percent year-on-year in October, dampening sentiments after recent purchasing managers' index (PMI) and gross domestic product data had suggested the economy may have bottomed out.
The pick-up in retail inflation will likely force Reserve Bank of India chief Raghuram Rajan to raise interest rates for a third time on Wednesday, crimping growth prospects for an already fragile economy.
First Published: Monday, December 16, 2013, 12:25