India-Inflation
Without giving any respite to common man, the inflation rate in India has risen its highest in more than 13 years to 11.89 per cent, for the week ended on the 28th of June.

It was 11.63 per cent in the previous week.

It is the 20th consecutive week that the inflation rate has been above 5.5 per cent, the target set by the Reserve Bank of (RBI) India for the end of the fiscal year in March 2009.

However, more bad news seems to be on its way as Finance Ministry officials have already made it clear that inflation could inch up to 13 percent before making a slow descent.

In the wake of Friday's figures government sources said that they do not rule out more monetary measures to rein in inflation.

RBI, India's apex banking institution, June 24 hiked repo rate or lending rate by 50 basis points to 8.5 percent and cash reserve ratio or the minimum balance a bank is required to maintain to 8.75 percent from 8.25 percent.

India's central bank is likely to convene a meeting July 29, where the issue of fresh fiscal measures will probably be discussed.

It is the 20th consecutive week that the inflation rate has been above 5.5 percent, the central bank's target for the end of the fiscal year in March 2009.

The Indian government, which has distanced itself from its powerful Left allies over the controversial India-US nuclear deal and is facing the threat of an early election, is at its wit's end as the high inflation rate will make leave millions of voters angry.

The current rate of inflation at 11.89 percent will be the highest since annual numbers in the current series became available in April 1995.