Food inflation rises 9.41 percent; Pranab expresses concern
October 7th, 2011 - 3:52 pm ICT by IANS
New Delhi, Oct 7 (IANS) India’s food inflation accelerated to 9.41 percent for the week ended Sep 24 as compared to 9.13 percent in the previous week due to sharp rise in the prices of milk, vegetables, fruits and protein-based products, official data showed Friday.
Finance Minister Pranab Mukherjee said acceleration in the prices of food and other essential commodities remained a matter of concern and the government was constantly in touch with the Reserve Bank of India to bring down inflation to a comfortable level.
“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 and other experts in this area,” Mukherjee told reporters here.
Food inflation has risen sharply during the last three weeks under review. Food inflation was at 8.84 percent for the week ended Sep 10.
Pulses became costlier by 7.54 percent during the week ended Sep 24 as compared to 4.86 percent increase in the previous week. Fruits became costlier by 11.72 percent prices of milk rose by 10.35 percent during the week under review year-on-year, according to data released by the commerce and industry ministry.
The primary articles index, which has a 20.12 percent weight in the wholesale price index, rose by 10.84 percent during the week under review as compared to 11.43 percent in the previous week.
The rise in the index of fuel and power remained unchanged at the previous week’s level of 14.69 percent.
The index for non-food articles rose at a much slower rate of 10.77 percent during the week ended Sep 24 as compared to 12.89 percent in the previous week.
Inflation has remained stubbornly high near double-digit since January 2010. The headline inflation based on the wholesale price index was recorded at 9.78 percent in August, according to the latest official data.
The stubbornly high inflation might prompt the RBI to hike policy rates again. The central bank has hiked key policy rates 12th time since January 2010.
The following are the yearly rise and fall in prices under review of some main commodities that form the sub-index for food articles:
Onions: 10.58 percent
Vegetables: 14.88 percent
Fruits: 11.72 percent
Potatoes: 9.34 percent
Eggs, meat, fish: 10.33 percent
Cereals: 4.57 percent
Rice: 4.13 percent
Wheat: (-) 1.01 percent
Pulses: 7.54 percent
- Food inflation rises to 9.13 percent - Sep 29, 2011
- Food inflation slips marginally, still above comfort level - Oct 13, 2011
- Inflation falls to 6.89 percent in March - Apr 16, 2012
- Food inflation rises to 9.80 percent; Pranab expresses concern - Aug 25, 2011
- Food inflation drops to 8.84 percent - Sep 22, 2011
- Food inflation soars, crosses double-digits - Oct 20, 2011
- Food inflation dips marginally to 9.55 percent - Sep 08, 2011
- Food inflation soars to 'disturbing' level of 10.05 percent - Sep 01, 2011
- Food inflation eases to 8.53 percent - May 05, 2011
- Fruits, milk push food inflation to 8.55 percent - May 26, 2011
- India food inflation edging close to double-digit - Aug 11, 2011
- Food inflation falls to 9.01 percent; will moderate further: Pranab - Nov 24, 2011
- Food inflation in double-digits for second straight week - Oct 27, 2011
- Food inflation falls to 7.33 percent - Jul 28, 2011
- India's food inflation declines further, still in double digits - Nov 17, 2011
Tags: acceleration, articles index, bank of india, commodities, finance minister, food articles, fruits, headline inflation, industry ministry, moderate level, New Delhi, oct 7, pranab mukherjee, pulses, reserve bank of india, vegetables, wholesale, wholesale price index