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India : India inflation posts surprise 7.23% jump
Publish Date : 15-May-2012
India\'s inflation jumped unexpectedly in April to more than 7.0 per cent, official data showed on Monday, undermining hopes of further interest rate cuts to boost the country\'s stumbling economy.
The closely watched Wholesale Price Index rose to 7.23 per cent in April from the same month a year earlier, fuelled by a 19-per cent jump in the prices of fruits and vegetables.
The headline inflation rise far outpaced market expectations of a 6.7-per cent year-on-year increase in April.
India only recently started unwinding rates from four-year highs as inflation has edged down from near double-digits where it stood for most of 2012.
