India’s wholesale price index rose 7.82% for in the week ended May 10, the Ministry of Commerce and Industry reported. It marked the 13th straight week that the inflation rate has been above the central bank’s 5.5% target, highlighting the increased pressures many developing nations are under given soaring commodities prices. The rate of inflation for the week ended May 15 is expected to be 8.02%, the highest level since September 2004, according to Bloomberg News . “The current high level of inflation is totally unacceptable, especially in terms of impact on inflationary expectations,” Reserve Bank of India (RBI) Governor Yaga Venugopal… SHARETHIS.addEntry({ title: "India and Other Emerging Economies Continue to Struggle With Inflation", url: "http://jutiagroup.com/2008/05/27/india-and-other-emerging-economies-continue-to-struggle-with-inflation/" });