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, 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.
Inflation, the silent killer
During the week ending May 24, non-food articles, raw rubber, raw cotton and groundnut seeds became expensive by 1-2 per cent.
Finance Minister P Chidambaram said inflation was a problem, but with people's support price stability could be ensured.
What is inflation?
Cereal prices went up by 0.5 per cent, while fruit and vegetable prices declined by about one per cent.
Despite fiscal measures taken by the government, prices of imported edible oil surged by 6 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.