Inflation rise “major disappointment”, says finance ministry

August 14th, 2008 - 10:22 pm ICT by IANS  

New Delhi, Aug 14 (IANS) The finance ministry Thursday said the sharp rise in weekly inflation rate to 12.44 percent was “a major disappointment”. “The rate of inflation for all commodities for the week ending August 2 stands at 12.44 percent, higher than the rate of 12.01 percent reported last week,” the finance ministry said in a statement soon after the data was released.

“After being nearly stable for four weeks, this rise has come as a major disappointment,” it said.

The ministry added that in the primary articles group, the annual point-to-point inflation increased to 11.43 percent as compared to 10.32 percent the week before.

“In the commodity group of fuel and power, the rate of inflation has risen to 17.99 from 17.12 percent”.

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