Inflation soars to new heights (07-07-2008)

Inflation is reaching new heights in India even as the ruling government is struggling to make it to the end of the term and clear off with nuclear issues. The percentile on the 21st of June 2008 for inflation was a whopping double digit of 11.63%. The fresh surge of inflation reflected on food and commodity prices rising up. As per latest reports the prices of food articles went up by almost 0.6%, food products had raised by 0.9% and the non food articles were at a rise of 0.4%. Similarly the prices for the chemicals and related products also went up by 0.6%. Machinery and machine tools were up by 0.2% and metals and alloys products rose by 0.8%. The impact of the new rise in inflation was also felt in the textile industry with the prices going up by 0.6% also. The WPI commodities remained unchanged at 237.1.