Jan. 24: The Union finance ministry has said that the average inflation would be nine per cent for this financial year as compared to 3.8 per cent in the previous year. The wholesale inflation was 8.43 per cent in December, while touched double digits in May and June. This is much higher than the comfort zone that the government.
“Our economic advisers have told us that we are likely to end the fiscal year with nine per cent average inflation,” said the revenue secretary, Mr Sunil Mitra.