Inflation soars to 11.89%, IIP slips to 3.8%
India's wholesale price index rose 11.89 per cent in the 12 months to June 28, above the previous week's annual rise of 11.63 per cent, government data showed on Friday.
The rate was also above a median forecast of 11.75 per cent in a Reuters poll of analysts, and is the highest since annual numbers in the current series became available in April 1995.
Inflation for the week ended May 3 was revised upwards to 8.73 per cent from 7.83 per cent.
The annual inflation rate was 4.42 per cent during the corresponding week of the previous year.
The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is published weekly.
Industrial growth slips to 3.8%, at 6-yr low
India's industrial output rose 3.8 per cent in May from a year earlier, sharply below the previous month's downwardly revised 6.2 per cent, data showed on Friday.
The figure was well below a forecast for growth of 7.2 per cent in a Reuters poll of economists. Output growth has fallen from the double-digit levels seen early last year as tight monetary policy and a stronger rupee lowered demand.
Manufacturing production rose 3.9 per cent in May from a year earlier, compared with a provisional 7.5 per cent in April.
Industrial output rose 8.1 per cent in fiscal 2007/08 (April-March), compared with 11.6 per cent in 2006/07.
