India’s official inflation at 11.63%, auto, housing, white goods, capital goods hyperinflation at 25%
Shekhar Pandit
Jul. 4, 2008

The official inflation rate in India made a new high again. It stands at a new high of 11.63 % for the week ended June 21, 2008.

While food articles and textiles during that week were up 0.7 per cent, primary articles rose by 0.2 per cent, and fuel, power and energy were up by 0.1 per cent. A steep rise of 3.6 per cent was recorded in minerals, while tea was up by 3 per cent. Non-food articles, however, were down by 0.5 per cent.

The most of the killer inflation came from auto, housing, white goods, capital goods. The hyperinflation stands at 25% inn these sectors.

The Finance ministry officials have already said that the overall inflation would inch up to 13 per cent before making a slow descent.

According econometric models, Indian’s raging hyperinflation will rise to 30% before stabilizing. Indian Rupees can lose as much as 30% within a year. India’s Sensex stock index is fall in valuation with raging inflation making its value further lower.

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