Inflation soars at 10.55 pc over fuel price hike

Posted By: Samyuktha
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New Delhi, Jul 14: Due to the hike in fuel prices, the inflation rate for June 2010 has gone up to 10.55 per cent.

The Wholesale Price-based Inflation (WPI) inched higher than the previous 10.16 per cent (provisional data) recorded in May 2010 as the fuel index rose by 1.7 per cent due to the prices rise in fuel.

When the fuel prices were hiked on Jun 25, the experts and analysts expected the inflation rate to go up.

However, it should be noted that low base in the corresponding period in 2009 when the inflation was at -1.01 per cent could led to a even a minor increase in inflation rate to seem as a huge rise.

The official data released on Wednesday, Jul 14, also said that the inflation for Apr 2010 was revised upwards to 11.23 per cent from the provisional 9.59 per cent.

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