Despite govt measures, inflation crosses 7.5%

Wholesale Price Index
Items

Y-O-Y
Inflation
(%)

Iron ore
(metallic minerals)

54.77

Basic heavy inorganic chemicals

35.92

Iron and steel

35.19

Basic metals and alloys

30.78

Edible oils

14.55

Other minerals

12.28

Milk

9.32

Vegetables

7.21

Cereals

6.92

% figure is projected inflation rate for week ended April 26, 2008 assuming that the index rises between 10 and 60 bps; calculated on a base of 211.6 (the index for the week ended April 28, 2007)  "I expect the inflation rate to be around 7.1 per cent till this month-end, after which it should start declining," said HDFC Bank Chief Economist Abheek Barua. He added that some unanticipated revisions in prices of metals and iron ore over a longer period than expected led to the current spurt in inflation.  Commerce Minister Kamal Nath today said he will meet cement manufacturing companies in the second week of May to convince them to lower prices.