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Current food inflation level unacceptable: Pranab

Finance minister Pranab Mukherjee said today food inflation at 8%, around the current level, is not acceptable.

business Updated: Jul 27, 2011 14:33 IST

Finance minister Pranab Mukherjee said on Wednesday food inflation at 8%, around the current level, is not acceptable.

The Reserve Bank of India on Tuesday stunned investors by raising interest rates 50 basis points and indicated it would continue with its anti-inflationary stance despite slowing growth in Asia's third-largest economy and uncertain global demand.