ENA Economy 2017-11-15 07:44:14 <p><strong>New Delhi, Nov 15 (KNN)</strong> The Wholesale inflation calculated from the Wholesale Price Index report of the Ministry of Commerce and Industry informed that the figure touched a six-month high mark in October.</p> <p>The inflation comes as a result of an increase in food and fuel prices.</p> <p>Experts view that the data does away with the possibility of an interest rate cut by the Reserve Bank of India (RBI) in its 6 December monetary policy review.</p> <p>Economic Affairs Secretary Subhash Chandra Garg in a tweet said that the inflation rising from last months levels largely on account of food especially vegetables and protein products.</p> <p>The Secretary however hinted that the high is likely to prove seasonal and is likely to come up fair.</p> <p>Commenting upon the numbers, Federation of Indian Chambers of Commerce and Industry (FICCI) in a release said that despite the stress point with the high inflation figures, things should ease out in the coming months.</p> <p>The Industry body also emphasized that the government must invest efforts to handhold the sectors such as manufacturing that is showing signs of recovery.</p> <p>The Federation expressed its concerns over interest rates, saying it continues to remain challenge for the industry.</p> <p>Steps must be taken in line with the ongoing efforts of the government towards the agro-processing sector. Also provisions must be made for seamless agri-value chains and agri-infrastructure in the country to minimize wastage and maximise efficiency, the Federation suggested.</p> <p>Also agriculture market reforms with regard to APMC Act and e-NAMs should continue to be encouraged, FICCI added.<strong> (With PIB Inputs) (KNN/DA)</strong></p> 18416 http://knnindia.co.in/news/newsdetails/economy/wpi-inflation-hits-6-month-high-of-358-per-cent-as-food-fuel-prices-continue-to-soar 2017-11-15 07:44:14 knnindia.co.in