Inflation for the week ended June 14 rose at an annual rate of 11.42 per cent, as compared to 11.05 per cent in the previous week. On a week-to-week basis, the oil did not contribute hugely for this inflation rise, as the recent fuel price hike was already reflected in the June 7 inflation data. Instead, the manufacturing, food and minerals contributed majorly to the rise. The manufacturing index was up by 0.6 per cent, food products rose by 0.7 per cent and minerals surged by 3.6%. Inflation for the week ended April 19 was revised to 8.23 per cent from 7.57 per cent.
Finance Minister P Chidambaram on June 26 said that the double-digit inflation would stay for some more weeks, before moderating. It said that the inflation is likely to go up to 11.6 per cent. Chidambaram also indicated that the government and the Reserve Bank of India would not hesitate to take more steps to rein in soaring prices, if need arises.
Finance Minister P Chidambaram on June 26 said that the double-digit inflation would stay for some more weeks, before moderating. It said that the inflation is likely to go up to 11.6 per cent. Chidambaram also indicated that the government and the Reserve Bank of India would not hesitate to take more steps to rein in soaring prices, if need arises.
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