Inflation crosses 11 per cent

NEW DELHI, INDIA: India recorded a 13-year high inflation of 11.05 per cent in the 12 months to June 7.

The increase in fuel, food and edible oil prices has contributed to the high inflation rate.

The previous high inflation of 11.11 per cent was recorded on May 6, 1995.

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The Reserve Bank of India is likely to adopt steps to counter rising inflation, which could include a hike in interest rates and also increasing the cash reserve ratio.

The RBI had last week raised its lending rate by 25 basic points. The central bank is slated to review its policy on June 29.