Inflation inches higher to 11.63%

Friday, July 04, 2008 (New Delhi) Driven by higher prices of fruits and vegetable, cereals and some manufactured items such as iron and steel and edible oil, inflation grew to a new 13-year high of 11.63 per cent. During the week ending June 21, inflation moved up by 0.21 per cent from 11.42 per cent in the previous week and 4.32 per cent in the corresponding week a year ago. The wholesale price index-based inflation inched up on account of higher prices of unrefined oil that soared by eight per cent, tea by four per cent, fruits and vegetable, sea fish, maize and bajra by two per cent each. At the same time, pulses, including urad and moong and spices became expensive by one per cent each. Despite attempts made by the government to tame price rise, items like iron and steel, edible oils and cement became costlier during the... [read full story]