May 30 2008
Inflation reaches 8.1% despite Govt’s efforts!
Once again inflation rate has reached a new height of 8.1% to give stress marks on the forehead of government and the public. Inflation struck at 8.1% for the week ending May 17 against 7.82% for the week ending May 10 in the face of surging international crude oil prices.
Finance Minister P Chidambaram, is however, still confident to suppress the rate and control the surging prices in India. The Finance Minister added that authorities may take more steps to control inflation if needed.
“It is worrisome, but we are confident of gaining mastery over inflation,” he said.
The inflation was 7.82 percent for the week ended May 10 as compared to 7.83 percent for the previous week, said the official figures released today.
During the corresponding week a year ago, the inflation stood at 5.62 percent.
Amid speculation of rise in prices of petroleum products, inflation is likely to remain high for the next 3-4 months. Analysts said that increase in the fuel price will further raise the inflation.
The Reserve Bank and government must have to take additional monetary and fiscal measures to control the rate.
One response so far
This UPA Govt. is responsible for this price rise, we still remember the incident of the fall of the BJP Govt in Delhi, just on the basis of rise in the price of Onion. That price rise was comparatively very less than today’s scenario. The same Congress party made so much noise of that issue, why are they silent today? Why there Govt. is involved in the price hike of Petrol and LPG? What there Yuvraj Rahul Gandhi is doing on this topic, or what there president Mrs. Sonia Gandhi is thinking about this?