Inflation races to 13-year high of 11.05 percent

June 20th, 2008 - 2:31 pm ICT by ANI  

New Delhi, June 20 (ANI): The inflation reached a 13-year high of 11.05 percentfor the week ended June 7.
Oil price hike and rising prices of food items have contributed to inflation.
Measured by the wholesale price index, it stood at 8.75 per cent in the previous week.
For the 17th consecutive week, inflation rate has been above 5.5 per cent.
Analysts say, the Reserve Bank of India (RBI) would come out with some measures on the rate and liquidity side much before the July policy for curbing high inflation figure.
This is the highest level of inflation during the United Progressive Alliance (UPA) regime. The annual inflation rate for the week ended August 28, 2004, was 8.74 per cent.
On June 4, the Central Government upped the price of petrol by Rs 5 a litre and that of diesel by Rs 3 a litre. The price of a Liquefied Petroleum Gas (LPG) cylinder was increased by Rs 50. Price of kerosene was left untouched. (ANI)

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in National |