Retail inflation surges to 10.36 percent in April

May 18th, 2012 - 3:15 pm ICT by IANS  

New Delhi, May 18 (IANS) India’s inflation based on retail prices surged 10.36 percent in April as compared to 9.38 percent in the previous month due to a sharp increase in prices of vegetables, edible oil and milk products, government data showed Friday.

The price rise was sharper in urban areas. In urban area, inflation based on Consumer Price Index (CPI) surged by 11.10 percent in April year-on-year, while in rural area it grew by 9.86 percent, according to data released by the Central Statistics Office.

Vegetables price in retail market grew by 24.55 percent. Price of edible oil surged by 17.63 percent and milk and related products became costlier by 14.94 percent during the month under review year-on-year.

Overall prices of food and beverages grew by 10.18 percent in April.

Clothing, bedding and footwear became costlier by 11.95 percent and prices of fuel and light grew by 11.40 percent.

Food prices have started pinching the pockets of common people again after showing some moderation in second half of 2011-12.

Food inflation based on wholesale price have entered into double-digit for the first time in six months. Food inflation grew to 10.49 percent in April based on the wholesale price, according to data released by the ministry of commerce and industry early this week.

The overall inflation based on the Wholesale Price Index (WPI) has accelerated to 7.23 percent in April as compared to 6.89 percent in the previous month.

In the wholesale market, prices of vegetables surged by 60.97 percent year-on-year. Potato price more than doubled. Milk became costlier by 15.51 percent. Prices of egg, meat and fish rose by 17.54 percent. Pulses became costlier by 11.29 percent.

The recent data showed that India continued to face the problem of high inflationary pressure and low growth.

As per the data released by the Central Statistics Office last week, India’s industrial output shrank by 3.5 percent in March due to poor show of manufacturing and mining sectors. It was is the first contraction in the factory output since October 2011, when it shrank by 4.7 percent.

The factory output, measured in terms of the Index of Industrial Production (IIP), had registered a growth of 4.1 percent in February year-on-year.

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