Inflation soars up to 11.89 percent

Inflation raced to a fresh high of 11.89 percent for the week ended June 28, on the back of surging food and commodity prices. The 10 year benchmark yield crossed 9.5 percent. Inflation is expected to touch 11.9 percent in the week ended July 04, 2008. This is the 20th consecutive week that the inflation rate has been above the 5.5 percent mark, the central bank's target for the end of the fiscal year in March 2009.