Gokarn Sees India Inflation Near 10% Till November, Reuters Says

India raised interest rates last week as it expects inflation close to 10 percent until November, Reuters reported, citing an interview with central bank Deputy Governor Subir Gokarn.

The Reuters report cited Gokarn as saying “we are near the peak,” without clarifying whether he was referring to interest rates or inflation.

Gokarn said inflation will ease from December because of “the base effect” and the impact of rate increases, according to the report.

The Reserve Bank of India Sept. 16 raised its repurchase rate for the 12th time since mid-March 2010 to 8.25 percent. India’s inflation accelerated to 9.78 percent in August.

To contact the reporter on this story: Kartik Goyal in New Delhi at kgoyal@bloomberg.net.

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net

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