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India’s Annual Inflation Unexpectedly Accelerates

India , the Asia’s third-largest economy’s inflation soared to 7.83% for the week ended May 03, 2008 from 7.61% – a 44-month high .

Earlier, Indian government banned cement export and non-basmati rice export , reduced import duty on some items and imposed export duty on some steel items to control the surging prices.

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