Inflation in India touches 8.75%
Inflation touched 8.75 per cent by May end, the highest during the UPA government’s tenure, mainly due to rising prices of food articles and vegetable amid fears that the recent increase in fuel prices would push it past 9 per cent.
The latest figures of rate of rising prices for the week ending May 31, up from 8.24 per cent in the preceding week, bring new worries to aam admi leading to apprehension that costlier diesel prices would have a chain reaction.
The rising prices of milk, pulses, spices, fruit and vegetables continued to pose a major challenge before the Manmohan Singh government in an election year even as Finance Ministry in tandem with the Reserve Bank of India pursued tough policy and monetary measures to tame inflation.
The previous high in the UPA regime was 8.33 per cent as per the provisional figure in the week ended August 28, 2004.