Inflation at 7.61%

Inflation for the week ended Apr 26 comes at 7.61 % vs. market 7.57% for the week before. Inflation for the same period last year was 6.06%.

Late last week the price of Tea shot up by whopping 16% over the previous week. This week its rising again. Experts expect the Inflation to touch 7.68% for the week ending May 3rd 2008.

YTD Inflation for FY09 is at 7.41%. Morgan Stanley in its report has expressed concerns about India’s Macro scenario but however hasn’t downgraded India to a SELL yet 🙂