-Reuters Inflation may have accelerated at its fastest pace this year in May, driven by higher food and fuel prices, impeding chances of a rate cut by the central bank at its review next week, a Reuters poll showed. The wholesale price index, India's main inflation gauge, is expected to rise 7.60 percent in May versus a year ago, compared with April's 7.23 percent, the poll of 31 analysts showed. Forecasts ranged from...

-The Economic Times The government has no immediate plans to raise the retail prices of diesel, kerosene and cooking gas, Oil Minister S. Jaipal Reddy said on Monday. "I am not touching (the prices of) diesel, LPG (liquefied petroleum gas) or kerosene," Reddy said, adding, no date has yet been fixed for a meeting of a ministerial panel to review the prices of the three subsidised fuels. State-owned oil fuel retailers announced an...

-The Indian Express India's wholesale price inflation accelerated 7.23% in April, compared with 6.89% in the previous month, as food and manufactured items turned dearer, heaping pressure on the central bank against any dovish approach to monetary easing despite shrinking economic activity. The government has revised up the inflation figure for February to 7.36% from 6.95% estimated earlier, according to the data released by the industry ministry on Monday. Prices of food articles...

-PTI   Spiralling international oil prices have put a strain on the country's import bill Stating that India faces "formidable" challenges on the energy front, Prime Minister Manmohan Singh today said spiralling international oil prices have put a strain on the country's import bill and domestic prices need to be rationalised. "With imports accounting for about 80% of our crude supplies, the spiralling prices of crude in the international market have put a...

-PTI The government on Tuesday said it has agreed in-principle to deregulate diesel prices, but is not considering similar proposal for the cooking gas.  "Government has, in principle, agreed to make the prices of diesel market determined," Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.  While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a...