BY OUR CORRESPONDENTNew DelhiJuly 31: Inflation rose marginally to 11.98 per cent for the week ended on July 19 as compared to 11.89 per cent in the previous week.The inflation rose due to high prices of moong up by 4 per cent, urad 3 per cent, arhar 2 per cent, condiments spices 1 per cent and some manufactured products. Inflation stood at 4.65 per cent in the corresponding week a year ago.ICICI securities economist, Mr A. Prasanna said that the inflation has a kind of stabilised. "Inflation has reached near its peak. It can go up to 12.5 to 13 per cent in August and then it should start coming down," said Mr Prasanna.However, the thing which can affect the inflation is how the steel prices move in the coming days. Steel manufacturers have been saying that they will raise steel prices in August, when the three months moratorium comes to an end. If steel companies raise the prices, the inflation could up.This is also the first inflation figure to be released after RBI raised the cash reserve ratio CRR of banks by 25 basis points to nine per cent and the short-term indicative rate repo rate by 50 basis points to nine per cent. It will take some time before these measures have an impact on inflation. RBI has said that the main thrust of the policy is to bring down inflation to seven per cent by March, 2009.Finance ministry statement said all the three consumer price indices indicate some decline in inflation in June compared to May."Inflation, on a week-on-week basis, has continued to remain stable," said the statement. While the annual inflation rate for the group of 30 essential commodities went up from 5.82 reported for the week of July 12, to 6.67 reported now.It has remained in the range of 5.7 to 6.7 per cent in the 16 weeks of the current fiscal year, said the finance ministry. "Prices of essential commodities which include food grains, edible oils, vegetables, dairy products and some other commodities including kerosene, soap and safety matches have generally been stable," it said.