Diesel price hike to add 120 bps to FY'14 inflation: Bank of America Merrill Lynch
Although inflation based on movement in wholesale prices, touched 3-year low of 7.18 per cent in December, retail inflation continued to be in double digit at 10.56 per cent.
Although WPI-based inflation has witnessed a decline in the last few months but at 7.18 per cent it is still much above the central bank's comfort level of 4-5 per cent.
The inflation has not declined to the expected levels despite tight monetary stance pursued by the RBI to check the rate of price rise.
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