Food price inflation rate rises further to 15.46 per cent

Food prices rose forth the fourth week in a row as the annual rate of inflation based on the wholesale price index of food articles in the country (the new series with 2004-05 as the base year) jumped further to 15.46 per cent (provisional) during the week ended 11 September 2010 from 15.10 per cent (provisional) in the previous week.

The continued increase in inflation rate was due mainly to higher prices of condiments and spices (2 per cent) and fish-inland, urad and poultry chicken (1 per cent each).

Food price inflation stood at a negative (-) 0.82 per cent in the comparable week a year ago (week ended 12 September 2009).

Build-up of food price inflation so far during the financial year (beginning 1 April 2010) was 2.52 per cent (provisional) against 5.64 per cent in the corresponding week of the previous year.

The index for the 'food articles' group rose 0.1 per cent to 178.5 (provisional) from 178.4 (provisional) in the previous week due to higher prices of condiments and spices (2 per cent) and fish-inland, urad and poultry chicken (1 per cent each). However, the prices of masur (-4 per cent), moong and arhar (-3 per cent each), gram and jowar (-2 per cent each) and beef and buffalo meat, fish-marine and tea (-1 per cent each) declined.

Inflation rate based on the wholesale price index of non-food articles jumped to 16.09 per cent (provisional) during the week ended 11 September 2010 from 14.40 per cent (provisional) during the previous week.