Inflation at a new high of 7.41%More fiscal steps in offing, experts foresee tighter monetary policyBS Reporter / New Delhi April 11, 2008Underlining the uncomfortable situation on the price front, the wholesale price index (WPI) rose to a near three and a half year high of 7.41% for the week ended March 29, 2008. Inflation had last stood above this level, at 7.68%, in the week ended November 12, 2004. The latest spike is on account of a continued price upsurge increase in primary articles like vegetables, fruit and pulses, as well as a sharp increase in manufactured products like foundries, iron, steel, as well as basic metals. Delayed revisions to prices of some items in the WPI basket have also contributed to the spike seen this March (the index rose 2.3 percentage points within the month). With today
