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Inflation Hits New High – 11.63%

July 4, 2008

Breaking NewsThe Indian Inflation as measured by the WPI rose to 11.63% for the week ending Jun 21 v/s 11.42% last week and 4.32% a year ago.

Of the headline 11.63% WPI number, 2.42% is attributed to primary articles, 5.7% to manufacturing and 3.5% to the fuel index. The worst part of this Inflation Saga is Upward revisions to the index has continued, with the April 26 data being revised up ~70bps from 7.61% to 8.27%.

Inflation is likely to remain in double digits and we expect RBI to hike the repo rate by another 25bps.

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