Consumer price inflation at a 9-month high of 11.24% in November
13 Dec 2013
A spurt in retail prices of fruits and vegetables such as onions and tomatoes pushed the consumer price index in the country to a nine-month high of 11.24 per cent in November 2013, provisional figures released by the Central Statistical Office (CSO) showed.
Consumer price inflation measured by the general index of consumer prices increased to 11.24 per cent in November 2013, against 10.17 per cent in the previous month (October 2013), showing signs that the Reserve Bank of India's inflation fears are real.
Consumer price inflation rate for rural and urban areas for November 2013 stood at 11.74 per cent and 10.53 per cent, respectively, in November 2013, against 10.19 per cent and 10.20 per cent, respectively, in October 2013.
The all-India food price inflation rate for November 2013 stood at 14.72 per cent while the rates for urban and rural consumers it was even higher at 14.90 per cent and 14.55 per cent, respectively.
Inflation in the food and beverages segment was 14.72 per cent compared with 12.56 per cent in the previous month.
During November 2013, vegetable prices rose 61.6 per cent year-on-year, compared with a 45.67 per cent increase in the previous month, according to data released today.
Fruit prices rose 15 per cent in November, while pulses were dearer by 1.2 per cent, cereals by 12.07 per cent and milk products by 9.06 per cent. The price rise of protein-rich items such as eggs, meat and fish was 11.96 per cent.
Inflation, after remaining in double digits for several months until March, had declined to 9.39 per cent in April and returned to double digits in October.
Data on inflation based on the wholesale price index is scheduled to be released on Monday.
Only yesterday, RBI governor Raghuram Rajan had said the central bank will look into all economic data while deciding on the policy rate.
RBI, which hiked the key lending rate by 25 basis points each at its two previous policy reviews, to contain inflation, is again scheduled to review its monetary policy on 18 December.
