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| Food inflation shoots up to 11.43 p |
| Food inflation shoots up to 11.43 per cent
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| INDIA
, 27-October-2011
1:45:59 AM |
| Food inflation shot up to 11.43 per cent for the week - ended on October 15 - on the back of costlier vegetables, fruits, milk and protein-based items.
As measured by Wholesale Price Index (WPI), food inflation stood at 10.60 per cent in the previous week.
The rate of price rise of food items was 14.20 per cent in the corresponding week of 2010.
As per data released by the government on Thursday, vegetables became 25 per cent costlier, year-on-year basis. Similarly, fruits grew dearer by 11.96 per cent, milk by 10.85 per cent and eggs, meat and fish by 12.82 per cent.
Pulses also became dearer by 9.06 per cent and cereal prices were up 4.62 per cent year-on-year.
However, onions became 18.93 cheaper. Wheat prices were also down 0.95, and potatoes by 0.45 per cent during the week under review.
As for weekly comparison, inflation in the overall primary articles category was 11.75 per cent for the week ended October 15, compared to 11.18 per cent in the previous week. Primary articles have over 20 per cent weight in WPI.
Inflation in non-food articles, including fibres, oil seeds and minerals, was recorded at 7.67 per cent during the week under review, as against 8.51 per cent in the week ended October 8.
Fuel and power inflation stood at 14.70 per cent during the week under review, compared to 15.17 per cent in the previous week.
The upsurge in food prices is likely to exert further pressure on the government and the Reserve Bank of India to tackle the situation expeditiously.
Headline inflation, which also factors in manufactured items, has been above the 9 per cent mark since December 2010. It was 9.72 per cent in September 2011.
RBI has hiked interest rates 13 times since March 2010, to tame demand and curb inflation.
In its second quarterly review of the monetary policy earlier this week, the apex bank said it expects inflation to remain elevated till December on account of demand-supply mismatch,
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