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Inflation may reach 14.5% in December
by Jenny HodgeA survey conducted by ASSOCHAM Eco Pulse (AEP) reveals that fuel prices may be hiked further in October 2008, causing inflation to peak in December 2008 to reach 14-14.5 per cent.
The AEP Report on ‘Inflation and Interest Rates’, says that coupling with low-base effect, inflation as measured by the WPI Index would peak at 14 -14.5 per cent as compared to 3.8 per cent in December 2007.
Mr. Sajjan Jindal, President, ASSOCHAM, said as inflation is likely to rise till December 2008, there could be further tightening of monetary policy, pushing the already high interest rates up further.
According to the survey, if the lending rates go up by another 50-100 basis points, non-food credit off take may come down to 19-20 per cent in the present financial year and home loan growth may dip to 5-7 per cent.
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