India's inflation rate rose to 11.91 percent for the week ended July 5, from 11.89 percent the previous week mainly due to a softening in prices of food particles, according to the Indian Finance Ministry Thursday.
The ministry said that inflation has stabilized compared to last week. The inflation for the week ended May 10 was revised to 8.57 percent from 7.82 percent.
On a week-to-week basis, the prices of primary articles were down 0.2 percent, while that of basic metals and alloys edged up 0.7 percent. The manufactured products index was up 0.3 percent and chemicals 0.5 percent.
Indian Finance Minister P. Chidambaram Thursday said that monetary measures have started having impact but still pressure exists on prices.
The rise was close to the levels expected by some analysts, who expected inflation at 12 percent for week ended July 5.
Economists expect India's growth to slow down this fiscal on higher borrowing costs and tough global financial conditions. |
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