Inflation soars to a 42-month high of 7.57%

Despite the government claims of containing the soaring price index, the inflation touched a 42-month high of 7.57% during the week ending April 19, 2008. It was at 7.33% during the week ending April 12, 2008. Prices of prices of food articles like rice, milk, tea, vegetables and some manufactured products have gone up again in the past couple of weeks.

Despite the fiscal and monetary measures taken by the Union government, the annual rate of inflation, based on Wholesale Price Index (WPI) continued to rise, causing panic among the common people and within the Congress party, which has geared up for the most crucial assembly polls in Karnataka.