Inflation touches a new high of 7.57 per cent

May 2nd, 2008 - 3:45 pm ICT by admin  

New Delhi, May 2 (ANI): Inflation rose again to a new high of 7.57 per cent for the week ended April 19 from 7.33 per cent in the previous week largely due to highly priced food items like rice, milk, tea, vegetables and some metal products.
Prices of basic metals and alloys rose by 1.3 per cent. Iron and steel prices rose by 1.1 per cent. The index of fuel group also rose marginally due to higher prices of light diesel oil and furnace oil
The corresponding figure in last year was 6.07 per cent. The wholesale price index based inflation touched the previous high of 7.76 per cent for the week ended November 2, 2004.
Despite a slew of fiscal and monetary measures taken by the Government, the annual rate of inflation has been showing rising trends in recent times. Meanwhile, a nation wide dawn-to dusk strike is being observed today by the Opposition National Democratic Alliance (NDA) to protest against the Congress-led United Progressive Alliance (UPA) Government’s inability to control rising prices of essential commodities. (ANI)

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