Inflation nears 12%

Inflation rose mar ginally to 11.98 per cent for the week ended on July 19 as compared to 11.89 per cent in the previous week.

The inflation rose due to high prices of moong, urad, arhar, condiments spices and some manufactured products. Inflation stood at 4.65 per cent in the corresponding week a year ago.

ICICI Securities economist A. Prasanna said the inflation has a kind of stabilised. “Inflation has reached near its peak. It can go up to 12.5 to 13 per cent in August and then it should start coming down,” he said.

The finance ministry said consumer price indices show some decline in inflation in June as against May.

“Inflation, on a week-onweek basis, has continued to remain stable,” it said.