India hit by 8.56% inflation
The inflation in the price of essential commodities and also the industrial products cuts down the economic cycle and that is exactly what is happening in India. India is seeing a massive spike up in overall inflation in the recent months, with the January 2010 figure at 8.56%.
The food prices have been spiking up due to failed monsoon, while Industrial product prices are going up due to low base effect of last January. So expect further monetary tightening by the Central Banker to the country in the coming months.