The Hindu Business Line : Inflation surges to 12.44%

NEW DELHI: Driven by higher fruit and fuel prices, inflation surged to 12.44 per cent for the week ended August 2. Some items in the manufactured goods category also became expensive, pushing up the inflation from 12.01 per cent recorded in the previous week.

Inflation was 4.39 per cent a year ago. “After being nearly stable for four weeks, this rise has come as a major disappointment,” said a finance ministry statement.

While fruit prices went up by 8.9 per cent, pulses became dearer by 1.4 per cent during the week. In the fuel category, the price of light diesel oil rose substantially by 16 per cent, while bitumen and furnace oil rose by 8 per cent and aviation turbin e fuel by 3 per cent.

In food basket, cereals became costlier by 0.5 per cent and condiments turned expensive by 2.6 per cent. Prices of vegetables, however, declined by 3.7 per cent.

The annual rate of inflation for the week ended June 7, which witnessed an increase in prices of petrol, diesel and cooking gas, was revised from 11.05 per cent to 11.66 per cent. - PTI
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