Inflation rose to 11.98 per cent for the week ended July 19 as some food and manufactured products turned dearer, justifying the harsh monetary stance of the Reserve Bank announced a couple of days back.
The moderation in inflation a week earlier to 11.89 per cent turned out to be an aberration as the rate of price rise is now a just a tad below the crucial 12 per cent.
It has been rising unabatedly after petrol prices were increased by the Government on June 5. Prices of pulses, fruits and spices went up as did the rates some manufactured products items.
Inflation stood at 4.65 per cent in the corresponding week a year ago. This is the first official data on inflation after the Reserve Bank increased the short-term lending (repo) rate by 50 basis points to 9 per cent and also raised the mandatory deposi ts (CRR) that banks have to park with it by 25 basis points to cool down the rate of price rise.
The moderation in inflation a week earlier to 11.89 per cent turned out to be an aberration as the rate of price rise is now a just a tad below the crucial 12 per cent.
It has been rising unabatedly after petrol prices were increased by the Government on June 5. Prices of pulses, fruits and spices went up as did the rates some manufactured products items.
Inflation stood at 4.65 per cent in the corresponding week a year ago. This is the first official data on inflation after the Reserve Bank increased the short-term lending (repo) rate by 50 basis points to 9 per cent and also raised the mandatory deposi ts (CRR) that banks have to park with it by 25 basis points to cool down the rate of price rise.
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