Vindicating Reserve Bank of India Governor D. Subbarao’s stand on not easing interest rates during the monetary policy review last month on account of persistent inflationary pressures, retail inflation moved closer to double digits at 9.75 per cent in October from 9.73 per cent in the previous month. As per the CPI (consumer price index) data released here on Monday, even as the month-on-month rise in the price spiral appears to be minuscule, the fact remains that there is as yet no sign of a cooling-off to suggest a downtrend in inflation in the near-term........
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