Food inflation rises to 9.41pc; matter of concern, says Pranab

New Delhi, Oct 7 (PTI) Food inflation rose to 9.41 per
cent for the week ended September 24 on the back of costlier
vegetables, fruits, milk and protein-based items.
Food inflation, as measured by Wholesale Price Index
(WPI), stood at 9.13 per cent in the previous week. The rate
of price rise in food items was 16.88 per cent in the
corresponding week of 2010.
As per data from the Ministry of Commerce, vegetables
became dearer by 14.88 per cent year-on-year during the week
under review, while potatoes and onions grew more expensive by
9.34 per cent and 10.58 per cent, respectively.
Fruit prices went up by 11.72 per cent, while milk was up
10.35 per cent and eggs, meat and fish became 10.33 per cent
more expensive.
Cereals became dearer by 4.57 per cent and pulses were up
7.54 per cent on an annual basis during the seven-day period.
"Inflation is definitely a matter of concern. We shall
have to see how to bring it down to a moderate level. I am
constantly in touch with the RBI," Finance Minister Pranab
Mukherjee told reporters here.
The monsoon was normal this year and the government had
earlier exuded hope this would bring down food prices.
Overall, inflation in primary articles stood at 10.84 per
cent during the week under review, compared to 11.43 per cent
in the previous week. Primary articles have a share of over 20
per cent in the WPI.
Inflation in non-food articles, which comprise fibres,
oil seeds and minerals, stood at 10.77 per cent for the week
ended September 24, as against 12.89 per cent in the previous
week.
Meanwhile, inflation in the fuel and power segment was
flat at 14.69 per cent, the same as in the previous week.
Headline inflation, which factors in manufactured items,
fuels and non-food primary items, in addition to food
commodities, stood at a 13-month high of 9.78 per cent in
August.
The Reserve Bank has already hiked policy rates 12 times
since March, 2010, to tame demand and curb inflation. PTI PPB
MNS