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Inflation crosses 11% to hit 13-year high
Friday, June 20, 2008 12:24 [IST]

New Delhi: India's annual inflation rate touched a 13-year high of 11.05 per cent for the week ended June 7, the same week during which the Central government had announced large hikes in prices of petrol, diesel and cooking gas.

The rate crossed into double digits from the 8.5 per cent inflation rate for the previous week.

The wholesale price index (WPI) for the fuel, power, light and lubricants group showed a 7.8 per cent rise and accounted in a big way for the high inflation rate, though the WPI for food articles actually declined 1.1 per cent during the week.

Releasing the latest provisional inflation data here, the Commerce and Industry Ministry said that in the week ended on June 7, WPI for light diesel oil had gone up 21 per cent, liquified petroleum gas (LPG) 20 per cent, naptha 17 per cent, furnace oil 15 per cent, aviation turbine fuel 14 per cent, petrol 11 per cent, high speed diesel 10 per cent and bitumen seven per cent.

The WPI for non-food items went up by 1.4 per cent, largely due higher prices of niger seed (13 per cent), raw cotton and mustard seed (four per cent), and raw jute and ginglee seed (two per cent). The ministry adjusted the provisional inflation figure of 7.33 per cent for the week ended April 12 to a final figure of 7.95 per cent.


Source : PTI

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