Inflation rises to 7.23 pc in Apr; vegetable prices shoot up

New Delhi, May 14 (PTI) Wholesale price index based inflation in India moved up to 7.23 per cent in April on account of spurt in prices of vegetables, meat, milk and pulses, although onion and fruits showed a declining trend. The headline inflation was 6.89 per cent in March. In April last year, it had stood at 9.74 per cent. However, as per the official data released today, inflation for the overall food items sub group was 10.49 per cent in April, as against 10.66 per cent in March. Food articles have 14.3 per cent share in the WPI basket. Inflation in the overall primary articles including food items inched up to 9.71 per cent in April, from 9.62 per cent in March. Inflation for manufactured goods increased marginally to 5.12 per cent in April, from 4.87 per cent in March. Inflation in the fuel and power segment was 11.03 per cent on an annual basis. The rate of price rise was 10.41 per cent in the previous month. Experts said the inflationary pressure, driven by prices of food articles, will keep the pressure on the government to remove supply side bottlenecks. Overall inflation hovered in double digits for most of 2010 and 2011. The Reserve Bank of India hiked key policy rates 13 times, totalling 350 basis points, between March 2010 and October 2011 to tame inflation. PTI