Inflation climbs to 11.89 pc this week

New Delhi, Jul 11: The headline inflation rate for the week ended June 28 has risen its highest in more than 13 years to 11.89 per cent, against 11.63 per cent for the previous week, according to the Wholesale Price Index data released here on Friday, July 11.

It is the 20th consecutive week that the inflation rate has been above 5.5 per cent, the target set by the Reserve Bank of India for the end of the fiscal year in March 2009. The 10-year benchmark bond yields have increased to 9.49 per cent, as higher interest rate expectations have pushed bond prices lower.

Moody"s has recently said that inflation in the Asia Pacific region is expected to moderate in the second half of the year due to tightening monetary measures. However, the agency maintains food crisis will continue to put pressure on the price lines.

UNI