The figures are out
Fuelled by increase in petroleum product prices, the wholesale price index (WPI)-based inflation rate soared to 11.05 per cent for the week ended 7 June as compared to 8.75 per cent in the previous week. Inflation rate stood at 4.28 per cent for the corresponding week in the previous year. Read BS
That is the highest in 13 years , God save the Pensioners, and the lower middle class and of course the Aam Admi, and WOAH! what a shocker to the system, one that expected it to be a bit above 10% – this could just give the retailer the incentive to inch up prices.
And as this high a figure (even after going through the govt knife) was unexpected the markets , they are a tanking! BSE down a full 500 points today ?
(image rediff money)