August 12th, 2011
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Food inflation reaches 3 month high

price riseMumbai:Amid the risk of a global downturn, wholesale prices of agricultural products including rice, wheat and lentils rose 9.9 percent in the week ended July 30, said the commerce ministry on Thursday.

The three month high mounting inflation is maintaining pressure on the central bank to increase further interest rates. Stocks across Asia fell today on concern Europe will fail to contain its debt crisis, undermining the world economy.

India’s 10-year bonds fell after the food inflation report. The MSCI Asia Pacific Index dropped 0.5 percent to 122.23. The Bombay Stock Exchange Sensitive Index declined 0.2 percent.


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