Inflation at 13-year high; soars to 11.05%

Inflation on Friday shot up to a 13-year high of 11.05 per cent fuelled by rise in prices of petrol, diesel and cooking gas, giving no relief to the government from the spiralling prices in an election year.

The rise in petrol, diesel and cooking gas prices announced by the government on June 4 put the pressure on price line pushing the inflation by week ending June 7, up from 8.75 per cent in the preceding week.
Within minutes of the release of the government data, the Bombay Stock Exchange�s Sensex tanked about 370 points, reflecting the nervousness of the investors about the efficacy of the measures being taken by the finance ministry and the Reserve Bank of India.

Besides fuel prices, rise in prices of food products particularly edible oil and manufactured goods added to the pressure on price line and woes of the government.
For the common man, it is a matter of huge worry. With prices of all commodities going through the roof, people are finding it impossible to make two ends meet.

-Rediff

Economies around the world are not done yet with inflation. We are bound to see further rises because of the demand supply gap in oil.

Hey..

Be ready to spend a lot ... Take care of your purses or stay indoors ! I was just kidding... We are in a helpless situation Time will alone,solve the problem.

Originally Posted by nivedi

Economies around the world are not done yet with inflation. We are bound to see further rises because of the demand supply gap in oil.

Thanx nivedi for posting here.As u said the inflation rate is expected to soar up further..At this rate how will the middle class ppl survive???

Originally Posted by Gowri66

Hey..

Be ready to spend a lot ... Take care of your purses or stay indoors ! I was just kidding... We are in a helpless situation Time will alone,solve the problem.

Yeah gowri..we have no other option than to expect price rise and smehow manage...i heard that cost of tomatoes is Rs 100/kg in chennai..I donno how far its true..

Hey...

The cost of tomato per kg is not Rs.100. It is just a rumour only. Came to know green beans costs Rs.60 per kg. in Chennai .What to do ? Middle class people.....

Originally Posted by Gowri66

Hey...

The cost of tomato per kg is not Rs.100. It is just a rumour only. Came to know green beans costs Rs.60 per kg. in Chennai .What to do ? Middle class people.....

i think from now on veggies can only be window shopped

my dear freiends...100rs per kg ...tomatto..romour..it is 20 rs per kg

Life has really become difficult now.

hi ramya,

FM has said that the inflation is going to stay at these levels for few more weeks i wonder if it is going to be really weeks..

right now inflation has touched 11.63 today....