Inflation climbs to 8.24%

Inflation surged to 8.24 per cent for the week ended May 24 from 8.1 per cent in the previous week, despite fall in prices of some essential commodities like fruits, vegetables and spices.
Wholesale prices-based inflation stood at 5.15 per cent a year ago. The rate of price rise is expected to advance further after two weeks, when the June 5 increase in prices of petrol, diesel and cooking gas would be taken into account.

During the week ending May 24, non-food articles, raw rubber, raw cotton and groundnut seeds became expensive by 1-2 per cent.

Earlier this week the government had raised the prices of fuel - petrol by Rs 5 per litre, diesel by Rs 3 per litre and LPG by Rs 50.

While admitting that 'inflation is a problem', Finance Minister P Chidambaram exuded confidence that India would be able to maintain it's growth trajectory, and also bring about price stability with 'people's support'.