Wholesale inflation rose to a four-month high of 3.24 per cent in August as prices of food articles, led by onions and vegetables, soared. Inflation based on the Wholesale Price Index was 1.88 per cent in July 2017 and 1.09 per cent in August 2016.
The last such high level of inflation was witnessed in April when the rate of price rise was 3.85 per cent. In August, the Reserve Bank cut policy repo rate by 0.25 per cent to 6 per cent citing reduction in inflation risk.
Important Takeaways from Above News-
- Arun Jaitley is the current Finance Minister of India.
Source- The Times of India