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100274
Fri, 01/15/2010 - 14:12
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https://oananews.org//node/100274
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Inflation vaults to 7.31pc in December; food prices high
LD INFLATION
New Delhi, Jan 14 (PTI) Inflation measured by wholesale
rates vaulted to more than a year's high 7.31 per cent in
December on higher food prices, mainly sugar, pulses and
potato, adding to the Indian government's worries about price
rise.
The December numbers beat Reserve Bank of India's (RBI)
forecast that inflation would reach 6.5 per cent-level only by
this fiscal end and research firm Dun and Bradstreet's 6.31
per cent.
Inflation was last above this level in November 2008 (8
per cent). In November 2009, inflation was 4.78 per cent.
The intensity of food inflation could be gauged from the
fact that prices of processed food items rose at the rate of
26.40 per cent in December, and non-processed food items
turned expensive by 19.17 per cent.
However, respite came for the government by way of lower
food inflation, measured for the week ending January two. It
eased a bit to 17.28 per cent from 18.22 per cent a week ago.
Struggling to put the lid on inflation, the government
Wednesday announced freeing white sugar imports from duty till
December, eased raw sugar processing norms and announced plans
to 2-3 million tonnes foodgrain in the open market.
Sugar prices rose 53.98 per cent in December. Sugar in
the retail market is selling at nearly Rs 50 a kg.
Potato prices too have more than doubled, while pulses
was costlier by over 40 per cent from year-ago level. Overall
vegetable and cereal prices were up nearly 40 and 13 per cent.
"Inflation is likely to touch 8.5 per cent by March this
year," said Standard Chartered Bank Economist Anubhuti Sahay.
(More) PTI BSP
RBT
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New Delhi, Jan 14 (PTI) Inflation measured by wholesale
rates vaulted to more than a year's high 7.31 per cent in
December on higher food prices, mainly sugar, pulses and
potato, adding to the Indian government's worries about price
rise.
The December numbers beat Reserve Bank of India's (RBI)
forecast that inflation would reach 6.5 per cent-level only by
this fiscal end and research firm Dun and Bradstreet's 6.31
per cent.
Inflation was last above this level in November 2008 (8
per cent). In November 2009, inflation was 4.78 per cent.
The intensity of food inflation could be gauged from the
fact that prices of processed food items rose at the rate of
26.40 per cent in December, and non-processed food items
turned expensive by 19.17 per cent.
However, respite came for the government by way of lower
food inflation, measured for the week ending January two. It
eased a bit to 17.28 per cent from 18.22 per cent a week ago.
Struggling to put the lid on inflation, the government
Wednesday announced freeing white sugar imports from duty till
December, eased raw sugar processing norms and announced plans
to 2-3 million tonnes foodgrain in the open market.
Sugar prices rose 53.98 per cent in December. Sugar in
the retail market is selling at nearly Rs 50 a kg.
Potato prices too have more than doubled, while pulses
was costlier by over 40 per cent from year-ago level. Overall
vegetable and cereal prices were up nearly 40 and 13 per cent.
"Inflation is likely to touch 8.5 per cent by March this
year," said Standard Chartered Bank Economist Anubhuti Sahay.
(More) PTI BSP
RBT
The information contained in this electronic message and any attachments to this
message are intended for the exclusive
use of the addressee(s) and may contain proprietary, confidential or privileged
information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately and destroy
all copies of this message and any attachments contained in it.
