Food inflation back to double digits at 11.4 percent

August 12th, 2010 - 2:27 pm ICT by IANS  

New Delhi, Aug 12 (IANS) After dipping for two straight weeks, India’s food inflation rose again to double digits at 11.4 percent for the week ended July 31, as prices of cereals, milk and fruits went up, official data released Thursday showed.
Food inflation was 9.53 percent a week earlier.

The fuel prices index, however, declined to 12.66 percent in the week under review as against 14.26 percent recorded in the previous week, data released by the commerce ministry showed.

Two weeks ago, food inflation had dropped to single digit at 9.67 percent for the first time in over a year.

The primary articles index also rose at a faster rate at 15.66 percent, compared to the previous week’s increase of 14.36 percent.

Following are the rise and fall in prices of some of the main commodities that form the sub-index for food articles over the past 52 weeks:

Cereals: 6.97 percent

Rice: 6.89 percent

Wheat: 7.93 percent

Pulses: 20.74 percent

Vegetables: (-) 6.09 percent

Fruits: 7.42 percent

Milk: 19.03 percent

Potatoes: (-) 42.18 percent

Onions: 0.32 percent

Wholesale price inflation, the measure for overall increase in prices, was at 10.55 percent in June.

The rise in inflation has forced the Reserve Bank of India grow increasingly hawkish in its monetary policy action. It had raised key interest rates by 25 basis points in its quarterly review in June.

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