Inflation in double digits, rate hike imminent
The inflation for the month of May shot up to 10.16 per cent, leading to expectations that the Reserve Bank of India may soon hike its policy rates. Driven by stubbornly high food prices and an increase in prices of manufactured goods, the benchmark wholesale price index touched 10.16 per cent in May, sharply higher than 9.59 per cent in the previous month.
