Annual inflation soars to 11.89 pc
As expected there was no respite to the spiralling inflation figures as the wholesale price index rose 11.89 pc in the week ending June 28, above the previous week's annual rise of 11.6pc.business Updated: Jul 11, 2008 12:40 IST
India's wholesale price index rose 11.89 per cent in the 12 months to June 28, above the previous week's annual rise of 11.63 per cent, government data showed on Friday.
The rate was also above a median forecast of 11.75 per cent in a Reuters poll of analysts, and is the highest since annual numbers in the current series became available in April 1995.
Inflation for the week ended May 3 was revised upwards to 8.73 per cent from 7.83 per cent.
The annual inflation rate was 4.42 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.
(Reporting by Rajkumar Ray, Editing by Mark Williams)