NEW DELHI: Inflation for the week ended July 19 increased marginally to 11.98 per cent. The non-food articles have gone down marginally. Primary articles were up 0.1% while food articles were also up 0.6%. Fuel ,power ,light remained unchanged.
While the details for this week’s indices are still trickling in, vegetables, non-ferrous metals, electrical gadgets, glass and earthenware showed a dip in their prices during the week ended July 12 as against the corresponding period previous year. Pulses, egg, meat, fish and man-made cloth also stood more or less at the same level where they were a year ago.
This has helped the annual inflation number stabilize at the present levels which still remain high with the annual inflation numbers summing up to about 12 per cent.
Meanwhile the RBI raised its key lending rate on Tuesday for the third time in two months, taking it to its highest in seven years to quell price pressures, dampen demand and keep inflation expectations in check.
The apex bank hiked the benchmark short-term rate by 50 basis points, about 25 bps more than what the market had expected, and the cash reserve ratio, the amount of funds banks must keep on deposit with it, by 25 basis points to 9 per cent to absorb surplus cash in the banking system....ET
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