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India faces 'surge' in inflation: Central Bank

18-Jan-2011 10:24 AM

India Central Bank Governor Duvvuri Subbarao stated India is facing a "surge" in inflation, fuelling speculation of an interest rate rise this month (Bloomberg, 17-Jan-2011). Mr Subbaro said: “We recovered from the crisis sooner than other countries but inflation also caught up sooner. A lot of other countries are still flirting with deflation. On the other hand, we have a surge in inflation.”