Inflation is hitting the Indian economy and hitting it hard. Recent reports suggest that the rate of inflation has gone up even further and touched 12.63 % for the week ended August 9. This is the highest in the last 13 years. What is amazing is that inflation was only around 4.3 % a year ago! We are speaking of a three fold increase in such a short period.
With this kind of increase, somethings had to be hit- one of them is salary hikes in corporate India for 2009.