Food inflation slips a tad to 8.96 percent
June 16th, 2011 - 1:30 pm ICT by IANSNew Delhi, June 16 (IANS) India’s food inflation slipped a tad to 8.96 percent for the week ended June 4, official data showed Thursday. The latest food inflation figures came ahead of an expected rate hike by the Reserve Bank of India.
The food inflation had risen to a nine-week high at 9.01 percent for the week ended May 28.
The persistently high inflation is expected to result in another rate hike from the Reserve Bank of India (RBI) when it conducts a mid-quarterly review of the monetary policy Thursday noon. Analysts expect at least a 25 basis point increase in the repo rate.
The RBI has hiked key interest rates nine times in the past 14 months to tame inflation and Governor D. Subbarao had said that the central bank’s first priority would be to bring down inflation even if it meant sacrificing growth in the short-term.
As per data released by the commerce and industry ministry, the primary articles index too rose for the week under review to 12.86 percent compared to 11.52 percent in the previous week, while those for fuels and power rose to 12.84 percent as against 12.46 percent recorded for the week ending May 28.
The following are the yearly rise and fall in prices of some main commodities that form the sub-index for food articles:
Onions: 12.17 percent
Vegetables: (-) 1.39 percent
Fruits: 29.92 percent
Potatoes: 1.14 percent
Milk: 10.59 percent
Eggs, meat, fish: 7.31 percent
Cereals: 5.25 percent
Rice: 2.32 percent
Wheat: 0.18 percent
Pulses: (-) 10.12 percent
- India's food inflation rises, another rate hike in offing - Jun 09, 2011
- Food inflation touches two-month high (Lead) - Jun 09, 2011
- Food inflation climbs to 9.13 percent - Jun 23, 2011
- Food inflation rises to 9.13 percent - Sep 29, 2011
- Food inflation at 10-week high; Pranab terms it unacceptable (Lead) - Jun 23, 2011
- Food inflation slips marginally, still above comfort level - Oct 13, 2011
- High inflation not acceptable: Pranab - Jun 23, 2011
- Food inflation drops to 8.84 percent - Sep 22, 2011
- India's food inflation rises for second week - Dec 16, 2010
- Rising inflation due to festive season demand: Mukherjee - Nov 03, 2011
- Inflation nudges up in June, close to double digits - Jul 14, 2011
- Food inflation dips marginally - Nov 11, 2011
- Food inflation soars, crosses double-digits - Oct 20, 2011
- Food inflation in double-digits for second straight week - Oct 27, 2011
- No respite from inflation, rises to 9.06 percent in May - Jun 14, 2011
Tags: articles index, bank of india, basis point increase, cereals, commodities, food articles, industry ministry, inflation figures, monetary policy, New Delhi, nine times, onions, rate hike, rbi, repo rate, reserve bank of india, rise and fall, subbarao, tad, tame inflation