Inflation soars to 11.91%; fuel fuels up wholesale price index

New Delhi, Jul 17 (UNI) The headline inflation rate for the week ended July 5 has risen to 11.91 per cent against 11.89 per cent for the previous week.

The 'Fuel, Power, Light and Lubricants' group was up by 0.5 per cent, primary articles were down by 0.1 per cent, while group relating to manufactured items moved up by 0.3 per cent.

The soaring inflation rate which is at 13-year-high has become the centrepiece of political drama being enacted in the country, even though political parties are giving different reasons for their disaffection with the government.

The government has departed from its time old practice of releasing the data on Friday morning and will henceforth issue details about the Wholesale Price Index on Thursday evening.

One of the ideas in bringing about the change is to prevent speculations in markets. Despite government's persistent efforts to bring down prices using array of instruments, including a tight monetary policy and fiscal measures to make exports more difficult and imports easier, prices do not show any sign of relenting.

Week after week the data released by the government comes as bad news for the States, corporates and the common man.

UNI MP/GS SG HT1758