Current food inflation level unacceptable: Pranab

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

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

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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.