Food price inflation shoots up to 9.9 per cent
11 Aug 2011
India's food price inflation accelerated to 9.9 per cent in end-July, the highest since mid-March.
Based on the wholesale price index of food articles, inflation rose further to a four-and-a-half month high of 9.90 per cent during the week ended 30 July 2011, from 8.04 per cent during the previous week. It was 16.45 per cent during the comparable week of the previous year.
The spike in food price inflation to a near-two digit level was aided by costlier onions, fruits, vegetables and protein-based foods, including most pulses, fish and meat.
Build-up of inflation during the financial year (beginning 1 April 2011) was 9.05 per cent against 8.09 per cent during the comparable week of the previous year.
The index for the 'food articles' group rose 1.6 per cent to 195.3 (provisional) from 192.2 (provisional) during the previous week due to higher prices of fish (up 17 per cent), poultry chicken and seafood (up 4 per cent each), ragi and fruits and vegetables (up 2 per cent each) and rice, coffee and gram (up 1 per cent each). However, the prices of egg, mutton, urad and arhar (down 1 per cent each) declined.
Inflation rate for the `non-food articles' group, however, declined to 15.05 per cent during the week ended 30 July 2011 against 15.60 per cent during the previous week. It was 15.32 per cent during the similar week of the previous year.
