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Inflation set to increase to 6.35 per cent
With prices of food articles and food products showing no signs of receding, the inflation rate looked north for the fifth successive week to touch a 55th week-high of 6.35 per cent on May 16. It stood at 6.14 per cent in the previous week. However, it was much lower at 5.77 per cent during the corresponding week last year (May 17). It has been hovering above the six per cent mark for the third successive week since May 2 when it broke through the 6 per cent barrier for the first time in 50 weeks. The latest 0.21 per cent increase in the inflation rate was mainly due to the substantial hike in prices of fruits, vegetables, and other basic house hold goods.