Mumbai, Jun 27: Inflation surges to 11.42 for the week ending June 14. Inflation was at 11.05 per cent for week ending June 7, highest in thirteen years. The previous week it was at 8.75 per cent. Tea price soar 3 pc and milk up 1 pc. Fuel price hike is the major factor which lead to higher inflation rate.
Union Finance Minsiter P Chidamabaram, said in CNN-IBN's Devil's Advocate programme that inflation will stay in "double digits" for few more weeks taking global ques. This is for the 17th consecutive week, inflation rate has been above 5.5 per cent. The annual inflation rate for the week ended August 28, 2004, was 8.74 per cent. On June 4, the Central Government hiked the price of petrol by Rs 5/litre and that of diesel by Rs 3/litre. The price of a Liquefied Petroleum Gas (LPG) cylinder was increased by Rs 50. Price of kerosene was left untouched.