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New Delhi, July 11 : This week’s inflation surged to 11.89 per cent in response to increases in food and commodity prices.
The inflationary trend shows an upward graph, which is expected to touch 11.9 per cent next week.
The Government has already declared that the inflation could inch up to 13 per cent before making a slow descent by September.
Last week’s inflation was recorded as 11.63 per cent.
Experts believe that double-digit inflation is likely to stay until September with the price of crucial commodities like steel is expected to rise further.
It is estimated that steel and steel products (used in industries like auto, housing, white goods and capital goods) contribute almost 21 per cent to inflation.
New Delhi, July 11 : This week’s inflation surged to 11.89 per cent in response to increases in food and commodity prices.
The inflationary trend shows an upward graph, which is expected to touch 11.9 per cent next week.
The Government has already declared that the inflation could inch up to 13 per cent before making a slow descent by September.
Last week’s inflation was recorded as 11.63 per cent.
Experts believe that double-digit inflation is likely to stay until September with the price of crucial commodities like steel is expected to rise further.
It is estimated that steel and steel products (used in industries like auto, housing, white goods and capital goods) contribute almost 21 per cent to inflation.
For the week ended June 21, inflation rate climbed up to 11.63 percent, as against 11.42% during the last week.
The inflation rate is presently at the highest since May 6, 1995, when it was 11.11%.
Fueled by increasing food and commodity prices, this will be the 19th straight week that inflation rate has been rising above 5.5%, RBI’s target by the end of the fiscal year in March 2009.
New Delhi, July 11 : In a bid to sustain the fragile Himalayan ecosystem, Oil and Natural Gas Corporation 
Mumbai, July 9 : Indian Banks Association has made a strong case to 
against 11.42% during the last week.
