India's weekly inflation surges to 13-year high of 11.42% (by V. Phani Kumar)

HONG KONG (MarketWatch) -- India's inflation surged to a 13-year of 11.42% in the week ended June 14 from the same period a year earlier, official data reportedly showed on Friday, raising chances of further monetary and fiscal steps to cool soaring prices. The latest data compares with inflation of 11.05% in the previous week, and the Reserve Bank of India's stated comfort level of 5.5%.