Inflation rate drops further to 3.32%

RBI measures to keep the inflation in control which was as at high of 6.69% in Jaunary are working quite well, the Inflation rate based on the wholesale-price-index dropped to 3.32 per cent for the week ended September 8 as against 3.52 per cent in the week before.

RBI held its short-term lending rate steady after raising it five times since mid-2006. Analysts are in a veiw that RBI may also follow US Federal Reserve Rate cut decision and would announce some rate cut.