The Hindu : Front Page : Inflation rises to 7.33 per cent

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Saturday, Apr 26, 2008
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Inflation rises to 7.33 per cent

Sujay Mehdudia

NEW DELHI: With inflation again rising to 7.33 per cent for the week ended April 12, up from 7.14 per cent, the United Progressive Alliance government has once again come under pressure to take some more fiscal and administrative measures to rein in prices.

The rise in inflation could result in the Reserve Bank of India (RBI) further tightening the money supply when it announces the annual monetary policy on April 29.

The RBI had already announced a 0.50 per cent hike in Cash Reserve Ratio (mandatory cash deposits of banks), which would suck out Rs. 18,500 crore from the system.

In the Lok Sabha, Union Finance Minister P. Chidambaram said financial, monetary and administrative measures had been initiated to check inflation and more steps would be taken.

Meanwhile, inflation rose, despite the high base of 6.34 per cent during this period last year, as global commodity prices continued to rise.

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