Inflation crosses 6 % mark, highest in last 12 months

March 28th, 2008 - 5:34 pm ICT by admin  

New Delhi, Mar 28 (ANI): With increase in metal and essential commodities prices, the wholesale price index based annual rate of inflation recorded 6.68 per cent growth rate for the week ended March 15, highest ever in the last 12 months.

It was over 5.92 per cent during the week ended March 8 and stood at 6.56 per cent for the week ended March 17, 2007.

Among food products, which rose 0.5 per cent over the previous week were rapeseed, mustard oil, maida, wheat flour, jaggery and khansari.

The highest increase was contributed by the index for basic metals. Alloys and metal products group which rose a significant 4.4 per cent due to higher prices of items like joist and rolls, bright bars, angles, channels and sections.

The government also revised the inflation rate for the week ended January 19, 2008 to 4.45 per cent as compared with 3.03 per cent reported earlier.

According to analysts, the announcement of Sixth Pay Commission recommendations, and provisions for enhanced expenditure on social sectors in the Budget 2008-09 coupled with rising crude oil prices have also raised expectations about high inflation. (ANI)

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