ID :
199140
Thu, 08/04/2011 - 12:41
Auther :
Shortlink :
https://www.oananews.org//node/199140
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Food inflation inches up to 8.04% for week ended July 23
New Delhi, Aug 4 (PTI) After dropping to a 20-month low
in mid-July, food inflation in India inched up to 8.04 per
cent for the week ended July 23 on expensive onion, fruits and
milk.
Food inflation, measured by the Wholesale Price Index
(WPI), was 7.33 per cent in the previous week, the lowest
since November 2009.
The rate of price rise of food items was 16.27 per cent
in the corresponding week of July 2010.
As per the official data released Thursday, onion became
dearer by 26.36 per cent year-on-year and fruits were
expensive by 15.97 per cent during the week under review.
Milk prices went up by 10.26 per cent, while vegetables
were expensive by 10.20 per cent on an annual basis. Besides,
cereal prices were up by 5.13 per cent, potato by 7.85 per
cent, and egg, meat and fish by 6.66 per cent.
However, pulses became cheaper by over 7 per cent on an
annual basis.
The latest numbers also mark a resurgence of food
inflation after a two-week long declining trend when the rate
of price rise had fallen below the 8 per cent mark.
Overall, primary articles recorded inflation of 10.99 per
cent for the week ended July 23, up from 10.49 per cent in
the previous week. Primary articles have a share of over 20
per cent in the WPI.
However, inflation of non-food articles which include
fibres, oil seeds and minerals, fell to 15.60 per cent from
16.05 per cent in the previous week.
Meanwhile, fuel and power inflation stood at 12.12
per cent, the same as in the previous week.
Headline inflation stood at 9.44 per cent in June. The
RBI has already hiked interest rates 11 times since March,
2010, to tame demand and curb inflation.
In its Economic Outlook for 2011-12 released earlier this
week, the Indian Prime Minister's Economic Advisory Council
projected headline inflation to remain high at around 9 per
cent till October. The rate of price rise will ease from
November, declining to around 6.5 per cent by March 2012, it
said.
The report also said that while pressure from food
inflation has fallen in recent months, the rate of price rice
still remained quite high with the possibility of further
surge in the coming months.
in mid-July, food inflation in India inched up to 8.04 per
cent for the week ended July 23 on expensive onion, fruits and
milk.
Food inflation, measured by the Wholesale Price Index
(WPI), was 7.33 per cent in the previous week, the lowest
since November 2009.
The rate of price rise of food items was 16.27 per cent
in the corresponding week of July 2010.
As per the official data released Thursday, onion became
dearer by 26.36 per cent year-on-year and fruits were
expensive by 15.97 per cent during the week under review.
Milk prices went up by 10.26 per cent, while vegetables
were expensive by 10.20 per cent on an annual basis. Besides,
cereal prices were up by 5.13 per cent, potato by 7.85 per
cent, and egg, meat and fish by 6.66 per cent.
However, pulses became cheaper by over 7 per cent on an
annual basis.
The latest numbers also mark a resurgence of food
inflation after a two-week long declining trend when the rate
of price rise had fallen below the 8 per cent mark.
Overall, primary articles recorded inflation of 10.99 per
cent for the week ended July 23, up from 10.49 per cent in
the previous week. Primary articles have a share of over 20
per cent in the WPI.
However, inflation of non-food articles which include
fibres, oil seeds and minerals, fell to 15.60 per cent from
16.05 per cent in the previous week.
Meanwhile, fuel and power inflation stood at 12.12
per cent, the same as in the previous week.
Headline inflation stood at 9.44 per cent in June. The
RBI has already hiked interest rates 11 times since March,
2010, to tame demand and curb inflation.
In its Economic Outlook for 2011-12 released earlier this
week, the Indian Prime Minister's Economic Advisory Council
projected headline inflation to remain high at around 9 per
cent till October. The rate of price rise will ease from
November, declining to around 6.5 per cent by March 2012, it
said.
The report also said that while pressure from food
inflation has fallen in recent months, the rate of price rice
still remained quite high with the possibility of further
surge in the coming months.
