Inflation will shoot up to 9.5 percent: Rangarajan

June 19th, 2008 - 8:14 pm ICT by IANS  

Bangalore, June 19 (IANS) The steep hike in fuel prices announced by the central government June 5 will mean that inflation will shoot up to 9.5 percent this week, Prime Minister’s Economic Advisory Council Chairman C. Rangarajan said here Thursday. “The impact of the fuel price hike of June 5 will be seen in inflation rate tomorrow (Friday, when the central government releases the weekly inflation rates,” Rangarajan told IANS.

“The rate may touch double digit in the coming weeks,” he said after giving a lecture on “The Indian Economy: Challenges Ahead” at the Indian Institute of Science.

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