Inflation creeps up again
Increase in prices of some food articles and manufactured products pushed up the inflation to a 13-year high of 11.98% for the week ended July 19.
By ET Bureau |
The wholesale price index-based annual rate of inflation inched towards the 12%-mark. Increase in prices of some food articles and manufactured products pushed up the inflation to a 13-year high of 11.98% for the week ended July 19.
The increase prompted economists to predict another 25 basis points increase in the Reserve Bank of India���s short-term lending rates, reports Our Bureau in New Delhi.
Going by the recent trend in revised numbers, inflation may already have crossed the 12%-mark. The government revised upwards the annual inflation for the week ended May 24 by 0.66 percentage points to 8.9%.
After declining marginally, the prices of primary articles is on the up again. The annual rate of inflation for this category increased to 10.24% for week ended July 19, 2008, from 9.92% a couple of weeks ago.
Increase in price of pulses contributed to this to a large extent.
Inflation now within kissing distance of 12%
The increase prompted economists to predict another 25 basis points increase in the Reserve Bank of India���s short-term lending rates, reports Our Bureau in New Delhi.
Going by the recent trend in revised numbers, inflation may already have crossed the 12%-mark. The government revised upwards the annual inflation for the week ended May 24 by 0.66 percentage points to 8.9%.
After declining marginally, the prices of primary articles is on the up again. The annual rate of inflation for this category increased to 10.24% for week ended July 19, 2008, from 9.92% a couple of weeks ago.
Increase in price of pulses contributed to this to a large extent.
Inflation now within kissing distance of 12%
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