Inflation Cools to 11.07 percent; Other Corp Stories

Inflation rate declines to 11.07% Inflation at 11.07 per cent
The wholesale price index rose to 11.07 percent in the 12 months to Oct. 11, below the previous week's annual rise of 11.44 percent, government data showed on Thursday.

The rate was also below a median forecast
of 11.35 percent in a Reuters poll of analysts. Inflation for the week ended Aug. 16 was revised up to 12.82 percent from 12.40 percent. The annual inflation rate was 3.07 percent during the corresponding week of the previous year. The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is released weekly. Meanwhile, the Finance Minister has assured that the fall in crude prices and the fall in commodity prices will be beneficial for the reducing the headline inflation. He agreed that at present the inflation rate was rather high but he is seeing moderation in the near future.
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