NEW DELHI: Inflation remained little changed at 7.82 per cent for the week ended May 10 in the face of surging international crude oil prices, even as the government battles the menace on various fronts.
The rate of rising prices was much higher at over eight per cent even as of March 15, a period for which the government now released final inflation figures.
According to the updated figure, inflation stood at 8.02 per cent for the week ended March 15 against the provisional 6.68 per cent.
The inflation was 7.82 per cent for the week ended May 10 as compared to 7.83 per cent for the previous week, said the official figures released today. During the corresponding week a year ago, the inflation stood at 5.62 per cent.
Amid speculation of rise in prices of petroleum products, inflation is likely to remain high for the next 3-4 months, while the Reserve Bank and government may have to take additional monetary and fiscal measures, said analysts.
"As it stands now, for another 3-4 months inflation will remain high even though it would show a tendency to decline at around 6 per cent. Inflation may reach even 5.5 per cent by end of this fiscal," PM's Economic Advisory Council Chairman C Rangarajan told reporters.
Industrial fuel prices, which are linked to international crude oil prices that crossed USD 135 a barrel, rose with aviation turbine fuel rates alone surging by 10 per cent. Fuel, power, light and lubricants index as a whole went up by 0.1 per cent during the week under review.
The only relief to the government was that prices of fruits, vegetables and pulses began declining and the prices of steel and cement remained static. Fruit prices declined by 0.4 per cent, vegetables by 3.2 per cent and pulses by 0.7 per cent during the
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