Inflation nightmare: Index at 13-yr high of 11.05%

Fri, Jun 20 12:07 PM

India's wholesale price index rose 11.05 per cent in the 12 months to June 7, above the previous week's annual rise of 8.75 per cent, government data showed on Friday.

The rate was well above a median forecast of 9.82 percent in a Reuters poll of analysts.

The rate is now at the highest since May 6, 1995, when it was 11.11 per cent.

The energy group index rose 7.8 percent in the week of June 7 when the government raised fuel prices.

Inflation for the week ended April 12 was revised upwards to 7.95 per cent from 7.33 percent. The annual inflation rate was 4.28 per cent during the corresponding week of the previous year.

The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is published weekly.

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