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India Economy: 
Indian Inflation Rises to 13-Year High at 11.05%
Author: 123jump.com Staff
123jump.com
Last Update: 1:02 PM EDT June 20 2008



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Point to point rate of inflation based on the CPI-AL and CPI-RL increased from 8.88% and 8.61% during April, 2008 to 9.11% and 8.84% respectively in May, 2008. Respective rates of inflation during May, 2007 were 8.22% and 7.90%.

 
The following is the unedited transcript of the news release from Press Information Bureau – Government of India

The All-India Consumer Price Index Number for Agricultural Labourers and Rural Labourers (Base: 1986-87=100) for May, 2008 increased by 2 points each to stand at 431 (Four hundred and thirty one) points for both the series.

The rise/fall in index varied from State to State. In the case of Agricultural Labourers, 6 States reflected an increase in index ranging between 4 and 6 points and for 7 States between 1 and 3 points. While the index for 2 States i.e., Punjab and Tripura remained constant, the index for remaining 5 States showed a decrease ranging between 1 and 3 points. Punjab with 465 points topped the index table whereas Himachal Pradesh was at the bottom with the index level of 375 points.

In the case of Rural Labourers, the increase in index ranged between 5 and 6 points in 6 States and between 1 and 3 points in 7 States. While the index for 2 States i.e., Maharashtra and Tripura remained constant, the index for remaining 5 States showed a decrease ranging between 1 and 3 points. Punjab with 465 points topped the index table whereas Manipur was at the bottom with the index level of 379 points.

The Consumer Price Index Number of Meghalaya for both Agricultural Labourers and Rural Labourers registered the highest increase of 6 points each mainly due to increase in the prices of rice, fish dry, chillies dry, vegetables and fruits, tea readymade, supari and bus fare. The index of Bihar reflected a decrease of 3 points for both the series mainly due to decrease in the prices of wheat atta, mustard oil and vegetable and fruits.

Point to point rate of inflation based on the CPI-AL and CPI-RL increased from 8.88% and 8.61% during April, 2008 to 9.11% and 8.84% respectively in May, 2008. Respective rates of inflation during May, 2007 were 8.22% and 7.90%.

Available at:

http://pib.nic.in/release/release.asp?relid=39697
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